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Supreme Ventures Invests In Growth And Expansion In 2019

Supreme Ventures Invests In Growth And Expansion In 2019

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The 13th Annual General Meeting of Supreme Ventures Limited was held on May 27, 2019 at the Spanish Court Hotel under the stewardship of Chairman David McConnell.

In her presentation, President & CEO, Ann-Dawn Young Sang gave a succinct overview of the company’s achievements in 2018 and outlined its 2019 direction. She noted the company’s record breaking $2.1 Billion in profits for 2018, which was attributed to taking a very strategic and targeted approach to the enhancement of its core revenue products that resulted in significant growth in its gross ticket sales amounting to over $62 Billion, a 12.3% increase compared to 2017.

She expanded “our financial performance in 2018 reflects our drive, focus and execution of core strategic initiatives such as our expansion into the mobile gaming arena, innovative promotions for our products and the kick-off of our regional expansion plans with our first regional outlet in Guyana under the iBET Supreme brand.” Young Sang further stated that these initiatives represented the strategic diversification of the company’s country, product and channel risk.

The SVL Group CEO spoke to the company’s 2018 contribution to the overall Jamaican economy, not only through its $44.2 Billion in pay-outs to winning customers, but also through its payments of $4.9 Billion in commissions and fees to its retailers and service contractors. The company also paid over a historic $6.9 Billion to the government in taxes and contributions for the financial year 2018.

SVL’s contributions of $1.75 Billion to corporate social responsibility efforts included fees paid into the Consolidated Fund for the company’s support of Jamaica’s Culture, Health, Arts, Sports & Education. Significant donations were also made to causes related to its focus on at risk children and children in state care, among them its partnership with the Hear the Children’s Cry organization.

“We are proud of our achievements in 2018, and as we look to the future through 2019 we are committed to investing in even further growth and expansion” Young Sang stated, “we have created a strong base and will be continuing to invest in reinforcing that base in order to create a springboard from which to build an even stronger, sustainable organization.”

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