The name Brian George is no stranger to the Top 10 CEO list, having become a regular on the list since 2007. That year George, CEO and President of Supreme Ventures Ltd (SVL), made a commendable debut, interestingly at the same place he finds himself in this latest list, number 2. Subsequently, he was number 3 in 2008 before sliding to number ten in 2009.

The 55-year old Trinidadian national has a first degree in physics of all things from Tulane University. He went on to pursue various management development programs, including Executive Development programs at the Ivy League, Stanford University.

George was appointed Chairman of the Board of Directors of the Ports Security Corps and as a Director of the Development Bank of Jamaica Limited in March 2012. He is also a Board member of the CHASE Fund which finances projects in the area of Culture, Health, Arts, Sports and Early Childhood Education.

In 2011, Supreme Ventures Ltd.  celebrated 10 years of loyal service in the business of customer excitement and entertainment, with a product portfolio which includes: lottery games, sports betting, video lottery terminals (VLTs); electronic PINs and hospitality services. Supreme Ventures Ltd. is listed on the Jamaica Stock Exchange and was cross listed on the Trinidad and Tobago Stock Exchange up until February 2, 2012. The company still remains the leading provider of lottery and gaming operations in the Caribbean.

SVL continues to be one of the most respected and recognizable brands in Jamaica. Under George’s astute leadership, 2011 was also a year of eliminating costs and relooking at their strategy in order to focus on the core business of lottery and gaming. In August 2011, the Group rationalized its gaming lounge operations to improve efficiency and productivity. Acropolis May Pen was downsized to a betting lounge with 19 VLTs and now offers an integrated gaming lounge, lottery and sports betting operations. In September 2011, the Acropolis Portmore gaming floor was re-configured.

On November 23, 2011 SVL signed an agreement with Lasco Financial Services Limited to conduct Money Gram remittance services at SVL’s Regional Offices through Lasco’s license. The company also voluntarily surrendered its Cambio licenses and discontinued these services under Supreme Ventures Financial Services Limited. The decision was implemented in order to improve and focus on the core business of lottery gaming, betting and gaming lounge operations. Cash Pot remains the top player in its lottery portfolio, as it represents 76.64% of total lottery revenue. Cash Pot increased by 12.31% when compared to the previous year of $16.798 billion, total sales being $18.866 billion.

The fact that a company was able to wade through an assortment of financial challenges due to the local and global economic climate says a lot about the its leader(s) and its management. Consider the following: there was a decrease in discretionary income due to economic factors; unexpected high Cash Pot payouts above the game design of 72.2%, and delay in sports betting Regulations, which resulted in the inability to expand the network of agents. Despite these challenges, which would have toppled companies devoid of strong leadership, SVL ended on a satisfactory financial note and continues to be optimistic, with focus on its growing product portfolio, to ensure future profitability.

The Supreme Ventures Group reported $27.962 billion in total revenues, a 10.66% increase over the $25.267 billion achieved in 2010. As a result, the Group’s net profit after tax was $606.326 million or a 43.93% increase over the previous year’s net profit after tax of $421.267 million.

Other benchmarks were:

• Return on Equity of 17.4% compared to 12.7% in 2010.
• Earning per Stock Unit of $0.23 compared to $0.16 in 2010.
• Dividend payments amounting to $0.17 compared to $0.14 in 2010

Chairman, Paul Hoo, noted that the company has had “a singular and significant achievement which we believe demonstrates our commitment to providing our shareholders with sustainable and increasing returns well into the future. This is the extension of our licence to operate from 2016 to 2026.” This commitment and its accompanying achievement of the extension of its licences means that Supreme Ventures will be a mainstay in Jamaica’s betting and gaming industry well into the future and with George at the helm, this bodes well for the future for SVL.

The major benefits to this notably achievement include:

1)      A negotiated significant reduction in the rates and extension of SVL’s agreement with GTECH to 2026.

2)      The signing of a long-term agreement with Intralot that would upgrade its lounges along with the implementation of the World Class IGEM online VLT monitoring system in Jamaica.

3)      The acquisition of land in downtown Kingston that will allow SVL to construct a head office building, while taking advantage of the incentives provided such as: Consolidation of offices; ability to exploit tax incentives on Urban Renewal Project and access to preferential interest rates.

SVL not only boasts strong financial reports but considers itself a responsible corporate citizen through various sponsorships and donations to worthy causes during the year. This included the handing over of motor vehicles to the police force, the Supreme Ventures Courtney Walsh

Cricket Clinics for youngsters under 15 years of age and a Christmas treat for children from the Maxfield Park Children’s Home, in addition to other social projects.

So can we expect to see the talented and business savvy Brian George on the List next year? Certainly, if he continues to show the same level of dynamism that has served the company well during his tenure. “2012 will be a year of strategic growth and expansion. Our goal is to continue to expand the sports betting network, while simultaneously increase the revenue per terminal. The focus is on expanding third party betting shops, as SVL-owned and operated betting shops would require extensive capital expenditure to put in place. Maximizing the full potential, with an increase in terminals, will boost and enhance profits.” The CEO opined about the company’s outlook for 2012. “We will continue to cater to the preferences of our customers creatively and be innovative in executing game enhancements and promotions within our lottery portfolio.” BM