Senior Research Analyst at JN Group, Jahmar Brown, says the upcoming FIFA World Cup tournament will provide a major boost to Supreme Ventures’ fourth quarter results.

Speaking on Taking Stock with Kalilah Reynolds, Brown noted that sports betting accounts for 25% of SVL’s revenue.

According to the company’s latest financial report, the segment contributed $9.3 billion to its overall revenue for the first nine months of the financial year.

SVL recorded an 18% increase in revenue from $31 billion to $37 billion. 

Brown explained that the lottery segment accounted for 46% of revenues, while sports betting, which includes horse racing at Caymanas Park, accounted for 25%.

“Pin codes, which is the sale of phone credit from telecom providers made up 24%,” Brown added.

The analyst noted that while SVL’s lottery business continues to be the dominant segment raking in $17.4 billion over the nine months ending September, the sports betting arm has shown fast growth. 

The company said this was in part thanks to the resumption of major sporting competitions like the English Premier League and the Champions League, whose schedules were interrupted by the COVID-19 pandemic.

Brown said that with the FIFA  World Cup scheduled to begin at the end of the month, the sports betting segment of SVL will see another boost. 

The company said that its total gaming income of $12.1 billion was largely driven by lottery sales with strong performances from its Cash Pot and Instants games. 

Additionally, SVL secured global certification for its mobile gaming platform earlier this year. 

Brown explained that this will enable the company to offer its mobile platform as a service to other operators, adding that this will provide another stream of income for the company.

Earlier this year, Supreme Ventures recorded a massive $1 billion in net profits for the first quarter of 2022, a first in the company’s 20-year history. 

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