Supreme Ventures Limited (SVL) has ramped up marketing spend on all platforms, noting that it is a critical part of the company’s 2021 strategy. Gary Peart, company chairman, says the move predates entry of new competition. The company is aiming to drive revenue higher following a challenging 2020.
New competition entered the market in February 2021 in the form of Mahoe Gaming Limited, which was given the green light by the Betting, Gaming and Lotteries Commission (BGLC) to start operations.
For the first quarter ended March 2021, SVL’s revenues fell by 18 per cent or by JM$135 million to JM$602 million.
Although declining to disclose the new revenue numbers, and the marketing budget for the second quarter, Peart said that six months into the new year results have changed. He indicated that SVL is focused both on increasing revenue and diversification, adding new products and business lines.
Peart outlined, “Our revenue has significantly increased over the past six months and we are very pleased with the impact of our promotions on the marketplace in general. Our online gaming products are gaining traction, a result of our multifaceted marketing push that include in-store promotions, online promotions like the Grand Promotion and Million Dollar promotions.
The company chairman noted that now individuals are opting to make their gaming purchases online from the convenience of their home or office, and that “since we are still urged to maintain social distance, several persons are taking advantage of our online assets, SV Games, JustBet Online and MBet for Caymanas Park.”
Sports betting products, he added, “are also doing very well, and as the sporting world slowly reopens. We anticipate even more growth in that area in the medium term.”