News

Robert Bailey – Jamaica Star – June 18, 2021

With just under a month to go before its resumption, the Elite Netball League is set to receive a massive boost as Supreme Ventures Limited (SVL) will be sponsoring the competition to the tune of $4 million.

STAR Sports has been reliably informed that the gaming company’s initial sponsorship will be for one year with the option to renew after each season. It is also understood that long-time sponsors Berger Paints will maintain its support for this year’s competition.

When contacted yesterday, president of the Netball Jamaica (NJ), Tricia Robinson, said she was not in a position to comment on SVL’s sponsorship of the competition.

Supreme Ventures Limited has been a regular sponsor of netball in Jamaica and in the past they have sponsored Netball Jamaica’s Divisional League competitions.

The Elite League, which consists of six teams, is the island’s top netball competition, attracting some of the country’s best players. The championships were scheduled to start in early 2020, but had to be postponed because of the impact of the COVID-19 pandemic.

Robinson underscored that her association is looking forward to the competition because this will set the tone for the wide scale return of the local leagues across the island.

“We are planning for the league to go ahead in July and it will be run for approximately two months but our team is working on those details just now,” said Robinson.

“This will be a good sign for us because we haven’t played any netball locally for more than a year and so we are really looking forward to the Elite League this year,” she said.

She also noted that her association is currently working on the fixtures and final details surrounding the start of the competition.

Meanwhile, a mini draft will be held to select three players for each team before the start of the competition.

Source: http://jamaica-star.com/article/sports/20210618/svl-sponsor-elite-netball-league

In an effort to stimulate the country’s vaccination levels, the Supreme Ventures Group today announced its new Vax & Win “lottery” promotion enabling persons to win hundreds of thousands in cash and prizes every week.

In a release, the company noted that the campaign which will hit the market soon pending authorization by the BGLC and will ensure that persons who get their vaccinations can also receive great cash and prizes.  It adds that effective June 20, any individual over 18 who has been vaccinated can enter and get their chance to win.  Entries will be submitted via an online entry form, each person is allowed one entry, and upon winning persons will simply need to present their vaccination card and ID to receive their prizes.

“We all need to pull together to ensure that the country is able to get back on track as we learn to live and work with Covid-19” said Xesus Johnston, CEO of Prime Sports Jamaica Ltd. “The vaccination program is a critical part of the way forward, and at Supreme Ventures we are ready to do our part to encourage as many persons to get vaccinated as possible. As the country’s leading lottery provider with one of the largest distribution networks across the country, we want to contribute significantly towards the national effort.”

Pending BGLC approval, the first drawing of the raffle will be June (26, 27, 28) just in time for the company’s celebration of their 20^th anniversary of operations in Jamaica.  Subsequent drawings will be conducted each week following.

Stated Johnston “We are in discussions with the Ministry of Health regarding Vax & Win, and we will definitely be closely monitoring the response and ongoing potential of the program.”

Supreme Ventures urges all Jamaicans to follow the Ministry of Health’s defined protocols as the country continues to face the challenges of the pandemic.  Wearing our masks, frequent hand washing, observing social distancing guidelines and staying home if you are ill are some of the methods that everyone can use to help each other fight Covid-19.

Already a major shareholder, businessman Ian Levy increased his holdings in Supreme Ventures Ltd by purchasing an additional 10 million shares, each valued at $19.

The transaction was effected early Friday morning on the Jamaica Stock Exchange, and the move to spend $190 million, according to Levy, marked a vote of confidence in the current direction of Supreme Ventures.

“I buy shares in other companies too, but my motivation of buying shares in Supreme is obvious for two reasons: I have confidence in the company and the future of the company, and also I have confidence in Jamaica and the future of Jamaica,” stated Levy, who came off the board of Supreme Ventures over a year ago.

Levy is a founding director of Supreme Ventures, which was formed in 1995 by himself, Paul Hoo, the former chairman, and Peter Stewart, now deceased. Levy also served as deputy chairman.

Levy’s move on Friday was hailed by Supreme Ventures’ Executive Chairman Gary Peart as a boost to the efforts of the company, which has faced competition from other players in the lottery business, Supreme’s core function, since earlier this year.

“The purchase demonstrates confidence in the management team strategies and the future direction of Supreme Ventures Group in general,” Peart said.

Supreme Ventures Group has earned the title of premier gaming and entertainment provider in Jamaica and select territories throughout the Caribbean. According to the company, what started out as a vision to operate a successful gaming entity has developed into a broad spectrum of gaming brands and entertainment companies that have been indelibly ingrained in the fabric of the Caribbean, especially in its home country, Jamaica.

Supreme Ventures launched its lottery operations on June 25, 2001 with 28 employees, and started with two games — Lucky 5, and Cash Pot. A third game, Dollaz, began in January 2003. The company now operates 11 games, and also runs the entire horse racing operations at Caymanas Park in St Catherine.

Source: https://www.jamaicaobserver.com/news/levy-spends-millions-more-on-supreme-ventures_221539

Following the recent purchase of a 10 per cent stake in production and entertainment company Main Event Limited, Supreme Ventures Limited (SVL) said it will be leveraging growth from this transaction through the establishment of a production company.

This as SVL seeks to gain a foothold in the entertainment space and double down on the venture in a half and half partnership with Main Event.

“One of the things that’s going to come out of this acquisition of 10 per cent is that SVL and Main Event have an understanding that we will form a production company. It will be owned 50 per cent each between [both companies]. That production company, we believe, is going to take advantage of huge potential in the marketplace,” said executive chairman of SVL Group, Gary Peart, during a Mayberry Investors forum this week.

“When we read this pandemic and study what is happening globally we think that there is a great potential for Jamaica to see the entertainment value,” added Solomon Sharpe, CEO of Main Event, in speaking to the synergistic value to be derived from the recent deal.

Sharpe, who is also the chairman of Supreme Ventures Racing and Entertainment Limited (SVREL), the racing subsidiary of SVL, believes that the affiliation of both companies with the lucrative Caymanas racing business strategically positions both entities to gain significant earnings from the entertainment activities lined up to take place at the almost 200 acres venue in the COVID aftermath.

“When the pandemic is over destination Caymanas Park, destination Jamaica will be ready and the new production company will also be ready — we already have some things in the pipeline. While many other companies use my business to look good, SVL identified a real opportunity to make it bigger and to potentially even look further into the Caribbean,” Sharpe said.

SVL, which posted record revenues of $10.7 billion during the first quarter of this year amid adverse effects from COVID-19, said that it was also bullish on achieving greater growth through its other segments.

The company, which operates businesses in gaming, betting, lotteries, racing and pin codes [phone credit top–up vouchers], said that its recently acquired 51 per cent controlling interest in microfinancing firm McKayla Financial services, through its Supreme Ventures Fintech Limited subsidiary, will has also helped to push the company towards more business as it opens up a pool of funds for on-lending to its large network of retailers and customers.

Peart said that despite heightened competition in the lotteries market, the company was more focused on growing its brand.

Providing update on the company’s foray into the South African market with its cash pot product late last year, he said that the company remained hopeful about the prospects despite a slowdown of gaming activities in that country due to adverse effects from the virus.

“We’re still excited about South Africa and we believe that as markets reopen there, we will definitely make the gains that we expect from that venture,” Peart said.

Source: https://www.jamaicaobserver.com/business-report/svl-and-main-event-partner-to-establish-production-company-this-as-companies-seek-to-benefit-from-activities-in-lucrative-entertainment-industry_220858?profile=1056