Neville Graham – Jamaica Gleaner – September 11, 2021

Supreme Ventures Limited, SVL, which was the only lottery and gaming operator up to last year but is now competing with two rivals, told shareholders on Thursday that it still holds a 99.5 per cent market share.

The pandemic, plus the market changes, resulted in flat earnings for the dominant lottery company at $2.42 billion in 2020.

The continuing COVID-19 restrictions remain a concern for the company regarding their potential impact on its financial targets. For example, customers generally play on its gaming machines during the hours of 9 p.m. and 1 a.m., a period that now falls within the nightly curfew hours.

“When the lockdowns and curfews will have abated, my expectation is that there will be a massive jump in revenues and profits at that point,” said SVL Executive Chairman Gary Peart.

Earlier, he told shareholders at the company’s annual general meeting that the company expects better outcomes as it responds technologically and through diversification to the pandemic.

“We expect a positive upswing as we continue to leverage our online channels, a move which is aligned with the trend in the marketplace,” said Peart.

He told shareholders that 2020 year had been one of the most challenging in modern history as the company continues to grapple with the impact of COVID-19; and that SVL had dealt successfully with the introduction of two gaming companies, while maintaining a 99.5 per cent market share.

Source: https://jamaica-gleaner.com/article/business/20210911/svl-claims-steady-995-market-share