Supreme Ventures expecting great results from Ghana

Executive Chairman of Supreme Ventures, Gary Peart, says the company’s proprietary lottery software has been a massive game changer and makes them competitive against larger gaming companies for international lottery licenses. 

“It was one of the biggest value chain changes in the history of SVL and interestingly the majority of investors out there did not really understand it,” he said.

“It puts Supreme in a position where we can now compete with other large lottery companies for lottery licenses across the world,” he added.

Speaking on Taking Stock with Kalilah Reynolds, Peart noted that SVL was able to secure a licence to operate two lotteries games in Ghana, due to the software.

According to the Chairman, the company’s Ghana operation should be up and running soon and is expected to contribute handsomely to the company’s revenues and profits.

Peart noted that Ghana’s population is 10 times the size of Jamaica. As of 2021, Ghana has a population of 32 million people. Jamaica’s population is roughly 3 million.

“To put that in perspective, Supreme made US$20 million in 2022 from a population of three million people in Jamaica. Ghana has 34 million people, so you do the math,” he explained.

“So you know once a game is set in Ghana our number will take off and we have more to come down the pipe,” Peart added.

As for the rationale behind entering the Ghanaian market specifically, Peart said it was just the luck of the draw. 

“In the world of gaming, it’s not always about what you want to do but it’s what is available. We had put in several bids in different countries and continents across the world and we were uccessful in Ghana,” he explained.

However, the Executive Chairman said he and his team feel it is serendipitous to bring its games to the West African country.

“We got the license on a particular date and one of the key provisions of the license is

that we need to be operational within 90 days. That 90-day provision actually carries us to August 1, which is Emancipation Day here in Jamaica,” he said.

“And you know it is said that the majority of Jamaicans came from slaves from Ghana. So what’s the probability that a Jamaican company gets a license in Ghana and has to start on August 1, the day that we celebrate emancipation from slavery,” he added.

Peart said that the company is working hard to ensure that it meets the August 1 deadline. 

Bolt appointed to SVL board

SVL also recently announced that Olympian and businessman Usain Bolt was appointed to the company’s board of directors.

According to Peart, Bolt’s experience and insights will make him an invaluable addition for the company’s continued growth and success.

“Director Bolt is currently the youngest director on the board, so he can give a perspective from a demographic that we didn’t have before,” Peart said.

He also noted that Bolt’s knowledge of international markets, coupled with his global network will be a game-changer as the company seeks to expand further into the Caribbean and other markets.

“Supreme is now a global company. We’re operating in three different countries outside of Jamaica and we have pretensions to access several others,” the Executive Chairman said.

“Director both as well as several other directors on the board have international experience and exposure networks,” he said.

“And fundamentally Bolt is also a wealthy individual, an investor in his own right and a businessman in his own right. So this move just made sense,” he added.