Supreme Ventures Limited (SVL) has signed off on a letter of intent to acquire majority shares in sports gaming business, AnyBet.
The deal, which is expected to be finalized next month, will be carried out through an agreement with SVL and the principals of Post to Post Holdings Limited, SVL stated in a notice to the Jamaica Stock Exchange (JSE).
SVL leads the lottery-gaming market and owns of Jamaica’s only horse-racing track, Caymanas Park. It, however, doesn't have a strong presence in the bookmaking market.
Post to Post, with registered office at 6 Lismore Avenue in Kingston is the owner and operator of AnyBet. The island's largest bookmaker - AnyBet deals in the wager of sports including football, ice hockey, basketball, tennis, ice hockey, rugby and cricket across more than 150 locations in Jamaica.
The company formed in 2013, following the merger of Jamaica’s largest bookmaking companies – Champion Betting, Track Price Plus Limited and Markham Betting.
Supreme Ventures did not reveal additional details about the move to acquire the majority shareholding in AnyBet.
It recently recorded $620.9 million in its consolidated profits for the first quarter ended March 31, representing the best results in the history of its operations.
In a statement accompanying its first-quarter result on the JSE last week, SVL told shareholders that it is moving ahead with plans for online gaming, another game-changing and innovative product for the group.
“We will continue to maintain the positive momentum in the first quarter through the implementation of key strategic initiatives for the remainder of the year,” SVL said.
