Revenue growth across three of Supreme Ventures Limited’s (SVL’s) business segments contributed to an increase in the company’s total gaming income for the six months ending June 30, 2022.

The group has five main operating segments: lotteries, gaming, horse racing, sports betting and pin codes.

In comments attached to unaudited financial statements for the six-month period, Chairman Gary Peart highlighted that the lotteries, sports betting and PIN codes segments all realised increases, which resulted in an 18 per cent rise in gaming income or $3.9 million more than the corresponding period in 2021. As at June 30, SVL’s total gaming income stood at $25.47 million.

Net profit for the six months was $1.64 billion, or 34 per cent more than a year ago. Earning per share moved up from 46 cents in 2021 to 61 cents.

The lotteries segment contributed gaming income of $12.1 billion as SVL continues its “focus on enhancing channel strategies and terminal expansion, which have been well received by the marketplace.

“The Supa Sellaz programme has provided an additional sales channel for both our customers and our third-party retailers and continues to be successful,” Peart outlined.

At the same time, SVL’s sports betting segment generated income totalling $7.1 billion, reflecting an increase of $139 million or 24.2 per cent relative to 2021. PIN codes sales were $6.0 billion.

With regards to PIN codes sales, the SVL chairman said the group will continue to focus on expanding its partnerships so as to increase touchpoints for its consumers.

“We continue to ramp up our recruitment of Greenfield retailers to extend our ‘Charge Up’ terminals,” Peart added.

In March, SVL signed a memorandum of understanding with the Jamaica Gas Retailers Association to expand its distribution of “charge up” and lottery games.

For the second quarter of 2022, increases in lottery sales, especially Cash Pot and Instants, fuelled a 17.6 per cent increase in total gaming income, which stood at $12.8 billion.

However, direct expenses for Q2 increased by 22 per cent to $10.4 billion as SVL saw prize payouts trending higher than in 2021.

Net profit for the quarter stood at $640.3 million, with earning per share staying at 23 cents.

Looking ahead, Peart expressed optimism that the sports betting segment as World Cup qualifiers reach a climax and with the resumption of major football leagues such as the English Premier League and Champions League.

“The group looks forward to the continuation of improvements, the launch of key initiatives and products through our retail channel, the continued drive to grow our mobile channels through increased penetration across our gaming segments, the continued build out of our business in Guyana and the improvement in the horse racing product through technological and new product initiatives. Our lottery portfolio continues to be a primary focus while improving and strengthening our internal infrastructure and capabilities,” Peart also shared.

SVL increased its total assets by 21 per cent to $10.9 billion.

In February, the betting, gaming and lotteries group increased its stake in Supreme Route Limited to 80 per cent for a consideration $806 million. It also purchased a stake in Keo World, a BNBP digital solutions company for a cash consideration of $154 million.