September 10, 2020

For the financial year under review, Chairman of Supreme Ventures Group Limited, Mr. Gary Peart highlighted that, “2019 was a greater year than 2018 showed by the continuous record- breaking performances across the Group.” The Group achieved sales of $38.52 billion (2018: $32.94 billion) and net profit of $2.47 billion (2018: $2.10 billion).

There are a few strategic objectives in which the Company used for the 2019 financial year, namely:

• Execution excellence:

• • Build a results-driven organization
  • Building core technological infrastructure

• Building strong relationships:

• • Optimize customer experience
  • Evolving our brand

• Market dominance:

• • Increase market share in each segment
  • Develop new channel to reach new customers

With respect to the 2019 financial year, there were some highlights to be noted:

• Record breaking ticket sales of $73 billion
• Massive winnings of over $50 billion
• Growth of Sports Betting segment by 178.1%
• Growth of Horseracing by 13.8%

The CEO of PrimeSports of Jamaica Limited, Mr. Xesus Johnston, highlighted the 2019 deliverables as follows:

• Sports Betting:

• • Platform improvements
  • Acquisition of Anybet which always target of specific customer segments, sporting events and other products

• Gaming and Hospitality:

• • Increased sales in Pin Codes segment

• Lotteries:

• • Sales channel improvements and customer facing promotions

Additionally, the General Manager for Caymanas, Mrs. Lorna Gooden, mentioned the investments in Caymanas in 2019:

• Since 2017- SVL invested $2.2 billion in the facilities and operations at Caymanas Park, in which $135.33 million was invested in 2019. This included:

• • Over $90 million Capital expenditure
  • Just under $22 million in Facility Improvement
  • SVL acquired water trucks and tractors at a cost of $24.25 million
  • SVL invested $14 million in Tote Equipment

• Live/Local racing increased by 8%
• Simulcasting increased by 20%
• Network expansion: Off-Track Betting (OTB) Network expansion new website
• Growth:

• • New Mbet accounts
  • Introduction of Parlay betting
  • Reintroduced English Racing; UK sales rolled out in April
  • Exported signal to Guyana and North America

Looking ahead:  

• Mrs. Gooden outlined the outlook for Caymanas as follows:

• • Stable management software
  • Replacement of Tote Board with Digital Screen
  • Re-orientation of ground floor- infrastructure development
  • Track development
  • Continued negotiation with the government and PMU for more reasonable terms.
  • Jockey room renovation which will be completed within another 2 weeks
  • New Simulcasting Betting
  • Continue thrust to take Caymanas Park to the international market
  • A letter of intent was signed in June between SVREL and Intelligent Gaming for the development and marketing of horseracing between Jamaica and South Africa. The letter expires May 2021.
  • An MOU was signed between SVREL and Chukka Adventures for the development of Caymanas Park as part of its tourist destination spots.

• Mr. Johnston highlighted the plans for the PrimeSports Jamaica Limited:

• • Connecting with retailers:

• • • CEO visits to retailers to drive cohesion and alignment
    • Supreme Connect- a quarterly retail newsletter

• • Connecting with Staff: Staff newsletter, job improvement programmes and incentives
  • Connecting with customers:

• • • Revamp new products
    • Create new products
    • Make payments for online products convenient

• Mr. Dennis Chung, CEO of the newest subsidiary, Supreme Ventures Services outlined the outlook as follows:

• • Operational efficiency and excellent with a focus on minimizing cost
  • A premium digital business hub (B2B) for medium businesses providing specialized services including:

• • • Human resource
    • Bearer services
    • Marketing
    • Information technology

• Mr. Peart stated the outlook of the Group as follows:

• • Regional Expansion
  • Interactive/ Online Gaming
  • Technological Buildout
  • Human Resource Capacity
  • Competitive Strategy
  • SVREL

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