Gaming and lottery company Supreme Ventures Limited is reporting less profit in its first quarter this year.

For the January to March period, the company made $712 million after tax.

 

That's $290 million less than the just over a billion dollars earned in the similar period last year. 

 

SVL says the lower profit was due to higher selling and administrative expenses of $222 million. 

 

This increased spend came as the company prepared to enter the Ghanaian market.

 

SVL announced last week that Game Park Limited, a company based in Ghana to which it will be providing technical support, received approval from the authorities to operate.

 

The company realised total revenues of $12.9 billion, versus the $12.72 billion earned last year.

 

Despite ticket sales being barely changed at $28 billion, SVL says it paid out almost six per cent more money to customers in the quarter, amounting to $22 billion.