Supreme Ventures acquires assets of Champion Gaming

Supreme Ventures Limited (SVL), through its subsidiary Bingo Investments, is set to acquire the assets and majority stake in Champion Gaming Company Limited, a Jamaican company with more than 1,200 slot machines, representing around 15 per cent of the slot machines market operating in the island.

In a statement, SVL said it expects the transaction to grow earnings and that the acquisition is strategically aligned with the group’s strategy to expand in new and existing market segments and product streams.

The new acquisition, SVL said, will also enable better partnerships with small business owners, who benefit significantly from the slot machine industry, providing a partnership with a stronger entity, and enabling better representation of their interests at the regulatory table.

SVL President and CEO Ann-Dawn Young Sang said the company would now be able to achieve greater economies of scale, leverage its synergies, and solidify its market position while expanding its product base in the gaming slots industry.

“We continue to execute on our growth and expansion strategy, which creates value for our employees, our over 5,000 shareholders, and our main partner, the Government,” Young Sang said.

She added that operationally, the current chairman and general manager, Damian Chin-You and Preston Chin, respectively, will each remain in their positions for another year during the transition process. During this time, a new board will be appointed.

The deal is expected to be finalised next month.