SVL expands sports betting network
Published:Sunday | October 13, 2013 | 12:00 AM
Supreme Ventures Limited (SVL) said last Friday that it has added 15 new locations, with plans for another nine for JustBet, the gaming company's sports-betting brand.
The current expansion brings the JustBet network to 28 'flagship' stores, plus another 100 outlets operated by agents, nationally.
The company declined to state the investment cost in the locations but says it has added about 30 new employees as a result of the openings. The new locations are rented or leased.
The JustBet brand "allows for betting on all international sporting events carried in the global sports book that we participate in. While football, NFL, NBA are the most popular events for betting, we also offer MLB, cricket, golf, Formula One racing, tennis, boxing ... any sport of interest in our programme for betting," said Andrei Roper, SVL's senior marketing officer.
"What we have also done is to significantly expand our range of betting options to better cater to customer demand. We are experiencing steady growth as we roll out the distribution network of sports- betting terminals," Roper said.
HIGH REVENUE SOURCE
JustBet is the fourth-highest revenue source for SVL, falling below lottery games and pin codes, but above hospitality revenues.
At half-year June, SVL Sports earned J$130.73 million compared to J$102.27 million at HY2012.
The 15 new locations are spread across Kingston, Linstead, Spanish Town, May Pen, Christiana, Yallahs, Montego Bay, and Black River.
The nine stores to come are being planned for locations in Kingston, Ocho Rios, Mandeville, Portmore, and Negril, and other 'key areas', SVL said.
Roper said the company is on the hunt for more agents, who are being offered five per cent commission on sales.
The company had no comment on projections for growth of the sports segment.
"We are actually in a 'black out' period, having completed our nine-month financial period, September 2013. We are unable to give further information on performance/projections until these financials are published," he said.