SVL plans to maintain market share despite competition

September 09, 2021

For the financial year under review, the Group achieved a 2% increase in ‘Total Gaming Revenue’ from $38.52 billion in 2019 to $39.36 billion in 2020 and net profit was $2.42 billion, a 2% decrease from the $2.47 billion recorded in the prior comparable period. Gross ticket sales amounted to $22.72 billion (2020: $15.67 billion) and total gamin income amounted to $10.88 billion (2020: $7.42 billion) for the six months ended June 2021. Total prizes amounted to $16.42 billion (2020: $9.19 billion). This translated to a net profit of $626.66 million (2020: $192.17 million), a 226% increase.

There are a few strategic objectives in which the Company used for the 2020 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

Concerning the 2020 financial year, there were some highlights to be noted:

  • Horseracing revenues over $5 billion
  • Sports Betting sales increased by 96%
  • Massive winnings of over $51 billion
  • Gross ticket sales $76.3 billion vs $73 billion a 4.3% increase

The CEO of PrimeSports of Jamaica Limited, Mr. Xesus Johnston, highlighted the 2020 deliverables as follows:

  • New Products/ channels
    • Hot Pick and added the mega ball feature
    • Supa Sellaz
    • SV Games mobile app
  • Four gaming brands playing in the digital space,
    • Lottery and numbers products: SV games
    • Horseracing: Mbet
    • Sports betting: Just Bet
    • Casino games: Acropolis online
  • Supreme Routes Limited was acquired in 2020, contributing $800 million in revenues
  • Launched Cashpot in South Africa
  • Sports Betting growth of 100%
  • Revenues from Pin Codes (Digicel and FLOW top up) recorded a 2.4% increase year over year due to the demand for data and the use of over the top services
  • Platform improvements

Additionally, the General Manager for Caymanas, Mrs. Lorna Gooden, mentioned the investments in Caymanas in 2020:

  • “Readjusted racing days from Wednesdays and Saturdays to Saturdays and Sundays to create a weekend of racing which gave more opportunity to watch races live and more robust wagering.”
  • “Launch of Reggae 6 in October 2020 which replaced Sunrise 6. This entails a minimum guarantee payout of $3 million, mandatory payout each month which consistently exceeds $15 million.”
  • Since 2017 SVL invested over $3.2 billion in the facilities and operations at Caymanas Park, in which $498 million was invested in 2020. This included:
    • Stable management software which gives details of the fitness of the horses in the Caymanas stables
    • Roadways
    • Facilities
    • Betting Structure
    • Investment in operations during the three months of lockdown
  • Live/Local racing decreased by 15%
  • Simulcasting increased by $867.6 million
  • Expansion and Growth
    • Off Track Betting, OTB network growth- At the end of 2020, there were over 117 locations island-wide, and 15 locations were added
    • New & Revamped products
  • Operations and Infrastructure
    • Upgrading of track
    • Manure skip construction programme (15 skips were constructed)
  • 5- year Historic Deal with Bet Maker Technology Group, Horseracing solutions provider which will include:
    • Construction of new infrastructure and event sponsorship until 2025
    • Construction of Trainers’ Pavilion
    • Implementation of fixed-odds horse racing alongside tote betting

Looking ahead:  

  • Mrs. Gooden outlined the outlook for Caymanas as follows:
    • Digitization-online gaming
    • Expanded Distribution Network
    • Improved brand positioning of horseracing as a sport and entertainment product
    • Infrastructural development
      • Plans to replace tote board with digital screen to increase revenue through sponsorship and advertising
      • Well construction
      • New entrance, grass track
      • Solar project
      • Upgrading of stands area
    • Increased stakeholder participation
    • Improved regulatory engagement
  • Mr. Johnston highlighted the plans for the PrimeSports Jamaica Limited:
    • Maintain Market Share (99.5%)
      • Increase retailer incentive promotion and programmes
      • Retailer Loyalty Programme
      • Nook & Cranny featuring the retailers as pillars of the communities
      • Increased CEO and Chairman visits
      • Quarterly Retailer newsletter, “Supreme Connect” to keep retailers informed
    • In February 2021, SVL increased Cash Pot Payouts
    • New Channels/ New Products
    • Just Bet Mobile-accept Credit and Debit card and cash in retail locations
      • Products and services to recharge phones or online accounts
    • Acropolis online launched in 2021
    • Expansion into new markets
  • Mr. Dennis Chung, CEO of Supreme Ventures Services Hub outlined the outlook as follows:
      • Promote services in traditional media, television and print, webpage and social media
      • Restructured the management of the business hub implementing a key executive position, Head of Business Services
      • Its services include:
      • Human resource
      • Finance
      • Marketing
      • Information technology
  • Mr. Peart stated also noted the outlook of the Group as follows:
    • More Investment and Growth
      • Technological Infrastructure
      • New markets
      • Human Resource Capacity
      • Operations
  • Mr. Peart stated, the Group has accomplished much by its acquisitions, “Supreme Route Limited, Post to Post and the most recent Mckayla Financial Services Limited. We created a new subsidiary, Supreme Fintech Limited, launched new products and created new channels and expanded beyond the Jamaican shores. SVL dealt successfully with the introduction of two gaming companies in Jamaica with gaming portfolios similar to the SVL model. I am proud to say that we are still the industry leader maintaining a 99.5% market share.”


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