Business Journalist at the Jamaica Observer, David Rose, says Supreme Venture’s historic 2022 performance is just the tip of the iceberg for the company’s future.

According to the company’s year-end results, Supreme Ventures (SVL) earned an impressive $50.8 billion in total revenue for the year and $3 billion in profit.

Speaking on Taking Stock with Kalilah Reynolds, Rose noted that the company’s overall performance was bolstered by a historic first quarter in which SVL reported $1 billion in net profits.

Rose noted that SVL would have benefitted from a boost in its sports betting segment as the 22nd staging of the FIFA World Cup occurred during its fourth quarter.

According to SVL’s financial report for the year ended December 31, 2023, the sports segment earned $14.3 billion.

The lottery segment contributed $23.6 billion, while pin codes, the sale of phone credit from telecom providers, added an extra $12 billion.

Rose said he expects the company only go up from here, as its management team has already announced several new initiatives. 

SVL recently signed an agreement to launch its gaming services, Pick 1 (Cash Pot) and Pick 4, lottery games in Ghana.

“SVL Executive Chairman Gary Peart and Chairman of Supreme Ventures Racing and Entertainment Solomon Sharpe also recently went to Hong Kong to explore streaming horse racing from Caymanas there,” Rose said. 

The journalist also noted that the company has expressed interest in acquiring the remaining 44 per cent interest in McKayla Financial Services Limited and making it a wholly-owned subsidiary. 

“SVL just has so much things going on right now, that it makes things very attractive for shareholders,” Rose said.

He noted that the stock’s price jumped from $24 to $30 following the positive results.

The price trended down slightly since then, closing the week at $27.30.

“Investors are quite impressed with SVL and the company’s trajectory right now. Although, it’s a “sin stock” which might not be attractive to some religious investors. However, the reality is SVL is in much better stead now and is a much better ran ship,” Rose said.

WATCH THE SEGMENT