SVL is positioned as a strong, stable group ready and well equip for the journey to the next level

May 31, 2022

For the financial year under review, the Group achieved a 12% increase in ‘Total Gaming Revenue’ from $39.36 billion in 2020 to $43.92 billion in 2021. Revenue from ‘Non fixed odd wagering games, horse racing and pin codes’ amounted to $26.39 billion (2020: $22.85 billion), a 16% increase. While Income from fixed odd wagering games, net of prizes totaled $17.53 billion (2020: $16.51 billion), a 6% uptick. For the year ended December 31, 2021, Net profit attributable to shareholders amounted to $2.29 billion versus $2.38 billion booked in the prior corresponding period.

Below are the strategic objectives which the Company used for the 2021 financial year:

  • 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

Concerning the 2021 financial year, there were some highlights to be noted:

  • Horseracing revenues increased by 42%
  • Record-breaking winnings of over $68 billion
  • Sports Betting revenue increased to $4.6 billion up from $2.6 billion
  • Gross ticket sales were $93.6 billion vs $73 billion, a 22% increase

The Executive Chairman, Mr. Gary Peart highlighted the following deliverables of the subsidiary Prime Sports Jamaica Limited during the financial year:

  • New Products/ channels
    • Charge Up
    • Acropolis Online
  • Fairview Retail Centre
  • Expansion of Mega Ball feature
  • Historic addition of over 220 new retailers
  • Pin Codes (Digicel and FLOW top up) recorded revenues of $11.6 billion, demand for data, reduced talk time and free Wi-Fi contributed to the revenue performance. The segment produced a positive result of $214 million in 2021.

Additionally, Mr. Peart mentioned the investments in Caymanas:

  • Since 2017, SVL has invested over $3.6 billion in Caymanas Park and its related eco system since the acquisition of the operations in 2017.
  • The Government asked the Group to do $500 million in CAPEX in 5 years. SVL has surpassed the $500 million mark in 2019, the current CAPEX stood at $637 million at the 4-year mark. The 2021 highlights include:
    • Major upgrade of water distribution system
    • Implementation of stable management software
    • Major extension of electrical distribution system
    • Increase in 2-day race carnivals
    • Expansion of mobile gaming
    • Creation of almost 40 millionaires through strategic product enhancement
  • Live/Local racing increased by 57% to approximately $1.7 billion
  • Simulcasting increased by 23% to approximately $3 billion
  • Gross revenue increased by 43% to approximately $8 billion
  • Mr. Peart stated, “We now feel confident that the horse racing community sees and supports our vision and we have more of a cohesive team effort working toward a sustainable goal. SVL remains committed to investing in the further growth and development of the product and we are on a growth path which we know will take Caymanas Park to profitability very soon. We suggest to the government that now is the perfect time to get more involved in supporting horse racing at the community level.”

Strategic Outlook:  

  • Mr. Peart outlined the outlook for Caymanas as follows:
    • More investment and growth
      • Technological Infrastructure
      • New Markets
      • Human Resource Capacity
      • Operations Capabilities
    • Maintain Market Share

Looking Ahead:

  • Mr. Peart noted the outlook of the Group as follows:
    • Winning at Supreme Speed
      • Always looking and moving forward
      • 2022 will see even more product innovation and expansion
    • SV Fintech Rollout under the Financial Services brand ‘Evolve’
      • Bill Payment
      • Loans
    • New Products
      • Supreme Scratchaz which exceeded 6-month target in first few weeks
      • ChargeUp continues to expand with over 600 retailers signed up
    • Caymanas Park Infrastructure Investment
      • Commissioning of the new Well in Q2
      • Unveiling of the new Digital Screen in Q2
      • Implementation of the sustainable Solar energy systems in Q3
    •  In closing, Mr. Peart noted, “By strengthening our infrastructure and capacity we have been able to realize the potential of all our traditional core business lines. Sports betting, horse racing, lottery and gaming has seen exponential growth. Our digital universe has expanded with multiple products and channels and all KPIs are showing positive growth indicators. The economic activity generated by the Supreme Ventures ecosystem continues to grow and generate beneficial ripple effects across Jamaica’s commercial landscape. We have in turn built strong, comprehensive and focused philanthropic support programs that not only assist the most vulnerable in our society but invest in and give back to the communities in which we operate.” He added. “As leaders in the gaming industry we are positioned as a strong, stable group of companies ready to leverage the springboard that has been carefully built over the last 5 years. The Supreme Ventures Group is heading nowhere but up and we are ready and well equip for the journey to the next level.”


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