Supreme Ventures records $62B in revenues last year
SUPREME Ventures Limited (SVL), Jamaica’s leading gaming company, on Monday announced gross ticket sales across multiple gaming projects, including the popular Cash Pot game, of $62 billion in 2018.
The figure was a 12.3 per cent increase over the 2018 figure, which the gaming giant attributed to focusing on managing costs, successfully implementing cost savings initiatives, whilst investing in the build-out of the group’s infrastructure.
Chief Executive Officer Ann Dawn Young Sang said that the 2018 results were a “win-win” for everybody, including SVL, its customers, and the Jamaican economy.
She explained that the company paid out $44.2 billion of those revenues to customers in winnings across betting on horse racing, lotteries, gaming sports betting, and the Acropolis gaming lounge in Barbican.
“It was a record year for winners and we remain committed to providing new and existing customers with premium gaming solutions to make them winners every day,” she told the company’s annual general meeting at Spanish Court Hotel, New Kingston.
SVL also paid out $5 billion to partners including retailers, and $7 billion to the Government in taxes and contributions.
The company says that 97 per cent of its revenues went back into the Jamaican economy, and over 97 million winning tickets were paid for last year.
Profit after tax ended up at $2.1 billion, surpassing last year’s $2 billion net profit, and $3.1 billion in gross profits.