Supreme Ventures Limited (SVL) has advised that it acquired an additional shareholding in Post to Post Betting Limited, which takes its total shareholding to 80 per cent for an undisclosed amount.

In 2019, Supreme Ventures Limited (SVL) which operates the largest gambling and sports betting network on the island, acquired an initial 51 per cent shareholding in Post to Post Betting.

The latest move raises SVL’s interest from half to four-fifths.

Post to Post offers gaming products including sports betting and horse racing in the Jamaican market under the Post to Post and Anybet brands with over three dozen locations across the island.

Despite COVID-19 and resulting reduced opening hours at betting shops, most segments of SVL performed well with $39.4 billion in revenue from $38.5 billion in 2019. The sports betting segment made less revenue but more profit in 2020 at $8.4 billion and a profit of $338.5 million. This compared to $8.5 billion in revenue in 2019 with a loss of $81.6 million the previous financial year.

The segment profit benefited from a change in format during the year to include horseracing and video lottery terminals as part of sports betting.

“This is due to a change in the chief operating decision-maker, the way in which the business is monitored including the reports used to facilitate management of the segments,” SVL said, adding that each area now has a general manager with responsibility for tracking performance against targeted objectives and reporting such performance to the executive chairman, Gary Peart.

SVL acquired Post to Post as part of its growth strategy to diversify its revenue streams from mainly lottery into sports betting including horse racing.

Source: http://www.loopjamaica.com/content/supreme-ventures-takes-more-post-post