FINANCIAL technology company Supreme Ventures Limited (SVL) is deepening its evolution into a full-fledged technology enterprise in 2025, leveraging its transaction platform and proprietary software to expand across digital and fintech services.

Speaking at the company’s annual general meeting held on Tuesday at AC Hotel Kingston, Executive Chairman Gary Peart revealed a series of new developments as the group moves further into the digital space.

“All our lottery numbers, sports betting, and horse racing mobile betting products have now been integrated into one platform, SV Games,” said Peart.

Customers can now access all SVL gaming categories in one place, continuing what the company describes as its digital revolution. In 2024 SVL expanded its offerings under its financial services brand Evolve, which now includes Evolve Bill Pay, Evolve Money Transfer, and Evolve Lend — a micro-lending company that was recently renamed to Evolve Loan Co. The company is currently developing a WhatsApp-based loan product.

“You can go on your WhatsApp and apply for a microcredit loan and get approvals,” he shared.

The company’s fintech division has officially onboarded its first third-party remittance retailer, with 12 more in the pipeline to support its existing six company-owned locations. SVL now has approval to expand this third-party network to more than 200 agents. The group has also secured a 30 plus-year extension to its gaming licence. SVL also announced that its Ghanaian operations have achieved profitability just 18 months after the launch of its iBET SVL Ghana.

“If it continues on the same trajectory this business is likely to surpass Jamaica within two years,” Peart predicted.

Proprietary technology that allows financial transactions to be conducted via mobile phone is a system Peart noted is common in Ghana, where people routinely use their phones for merchant payments and other transactions across Africa. While SVL possesses the capability to offer similar services in Jamaica, the company has not yet received regulatory approval to implement them locally. However, Peart noted that the cost of developing proprietary systems can now be amortised across multiple ventures, ultimately saving the company money in the long run.

“The future is that these margins are going to continue to compress, and if you don’t own your own technology you’re not going to be competitive,” Peart explained.

The Ghana expansion is one nation on a list of countries SVL is looking to enter, with plans to deploy Jamaican talent to lead operations abroad, working in tandem with local partners.

For the first quarter of 2025 the group recorded a net profit of 500 million — a 40 per cent decrease compared to the first quarter of 2024. Though SVL continues to face losses from the fall-off in performance at Caymanas Park, with the horse racing division recording a loss of more than $400 million last year, Peart warned that if the operation incurs a similar loss again the company may consider returning the track. Still, he believes there is a path to profitability for the racing products.

“We have a plan that can turn Caymanas into a 24-hour facility that is consistently generating revenue every hour of the day,” he revealed.

Plans include adding entertainment and retail space to boost the facility’s appeal. However, Peart pointed out that the property is currently under lease, limiting financing opportunities. He reiterated that SVL should not have to approach the Government to propose such plans, but rather the Government should initiate that conversation. SVL has already secured over $1 million in sponsorship for Caymanas and has projected a long-term investment of US$100 million. Peart confirmed he has written to the landlord about acquiring the property. Among the proposals is demolishing the current grandstand and constructing a more modern facility.

“The team is thinking of putting a food truck there. People need to get comfortable coming out to Caymanas,” said Peart.

The space, he added, can be used for picnics and outdoor events, but public awareness remains low. The aim is to rebuild Caymanas’ presence and position it as a hub for entertainment and leisure, despite compressed earnings from that segment of the business.