Monday, 01 May 2023 08:08

Supreme Ventures reports less profit in first quarter this year

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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.