Supreme Ventures Limited (SVL) recently reported that the company has signed an agreement to open up gaming operations in Guyana. The agreement was signed with Guyana’s Gaming Authority, which could see SVL infiltrating the gaming industry in Guyana dominated by hotel franchise, Princess Hotel and Casino.
Details of the agreement have are still forthcoming, however, it is clear that SVL intends on expanding its reach across the region and with this move there is a greater opportunity for the company to increase revenue and net profit in the coming months.
The local gaming industry, as stated by the Betting, Gaming and Lotteries Commission, amassed revenue of $135.6 billion between 2015 and 2016. Of that amount, video lottery terminal accounts for $16.7 billion, a 22 percent increase from previous years, while 19 and under gaming operations made revenue of $1.4 billion. A significant portion of that total was contributed by lottery games, which accounts for nearly one- third of the gaming industry.
Additionally, lottery gaming made revenue of $34.1 billion and the betting sector accounted for $317.3 million in 2016. Supreme Ventures Limited made revenue of $45 billion in 2016, a 2 percent increase from 2015.
Guyana currently has gaming products including different scratch and win games, Draw d Line, Lotto Supa 6, Lucky 3 and Daily Millions.
We do recommend that our clients purchase this stock and with news of an expansion, we look forward to see the performance of the company for 2018.