Supreme Ventures reports less profit in first quarter this year

Supreme Ventures reports less profit in first quarter this year

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.