Cash Pot’ eats into Supreme Ventures profit

Lottery operator Supreme Ventures Limited (SVL) has recorded strong year-end results, posting a 43.9 per cent increase in net profit to J$606 million, but it fell short of the company's prediction to double last year's earnings of J$421 million due to larger than expected payouts.



Disbursements from the company's popular cash pot game totalled approximately J$200 million during the year to the end of December 2011 and that impacted profitability, Brian George, SVL’s chief executive officer told Wednesday Business.



"The reality is that cash pot games exceeded our expectations, and the high payout creates a tremendous challenge at the expense of the profitability of the business," he said.



business@gleanerjm.com



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