Supreme Ventures Limited Partner Receives 10-year Licence from Ghana Lottery Licensing Authority

• In a release to the Jamaica Stock Exchange, Supreme Ventures Limited advised that Game Park Limited, partner to its Ghanaian subsidiary, IBet SV Ghana Ltd was granted a ten (10) year lottery licence by the National Lottery Authority (NLA) in Ghana . IBet SV Ghana exclusively provides technical services to Game Park.
• The granting of this licence follows Game Park Limited satisfying the obligations under the one year provisional licence as a Third-Party Collaborator to operate a lottery in that country.
• The company noted that its partnership in Ghana marks a significant and historic milestone in its expansion strategy. By leveraging its Gaming Laboratories International (GLI) certified proprietary software and best-in-class live draws, SVL is aiming to bring its gaming products and technology to other parts of Africa and eventually other jurisdictions around the world.
• In Ghana, lottery revenue is expected to show a compound annual growth rate of 7.86% between 2023 and 2027. Additionally, formalised sports lottery popularity is growing rapidly in Ghana, especially amongst the male populace. One study found that 96% of males engaged in sports lottery in Ghana were within the age bracket of 21-40 years, which makes online lottery and mobile penetration a good strategy to attract and maintain this segment.
• This bodes well for SVL’s reach, scale and revenue growth opportunities as the company is now able to sell its products in this significantly larger market of 34Mn people.

(Sources: JSE, SVL Annual Report and NCBCM Research)