INTRALOT ACQUIRES STRATEGIC STAKE IN THE BIGGEST LOTTERY OPERATOR IN THE CARIBBEAN
INTRALOT announces that it has increased its equity participation in Supreme Ventures Limited (SVL), the biggest lottery operator in the Caribbean.
INTRALOT Caribbean Ventures Limited, asubsidiary where INTRALOT has 50,1% equity participation, has consolidated the existing participation of INTRALOT as well as of the remaining shareholders of INTRALOT Caribbean Ventures Limited in SVL, while it also acquired additional stake in SVL reaching a total of 49,9%. More precisely, approximately 1,3 billion shares of SVL were transferred to INTRALOT Caribbean Ventures Limited at a price of 1,95 Jamaican dollars (US$ 0,022) per share.
Supreme Ventures is a public listed company that started operations in 2001. During its relatively short tenure, Supreme Ventures has earned the enviable reputation of being one of the leading and more dynamic companies in Central America and the Caribbean. SVL acquired 100% of the shareholdings in the Jamaica Lottery Company (JLC) in December 2003, thus gaining a larger foothold in the local gaming industry. According to its 11 months results 2009 revenues reached 22,2 billion Jamaican dollars (approximately US$ 250 million) and EBITDA were 1,24 billion Jamaican dollars (approximately US$ 14 million).
SVL being the dominant lottery company in Jamaica has an extended network of 1,000 Points of Saleand operates also VLT gaming lounges. One of the most popular lottery games it operates in the country is the numerical game “Cash Pot”; while “Lotto”, “Pick 3”, “Lucky 5”, “Dollaz”, are also included in its gaming portfolio. Moreover, SVL holds a license to operate Fixed Odds Betting in Jamaica, where INTRALOT has undertaken the operation.
Commenting on the agreement, Mr. Constantinos Antonopoulos, CEO of INTRALOT Group, stated: “We are very pleased to expand our partnership with SVL, a very successful and promising company in the gaming industry. This acquisition will create a win-win situation for INTRALOT as it will further strengthen our presence in the region and contribute to our Group’s strategic objective for profitable growth and for SVL, which aims to become the protagonist of the gaming sector in the wider region.”
Mr. Nikos Nikolakopoulos, Managing Director of INTRALOT Latin America, added: “We are very excited about becoming an indispensable part of the leading Jamaican lottery company. This will open new horizons for SVL, enabling it to play a significant role in the region and penetrate further into the Caribbean gaming market.”
SVL Chairman,Mr. Paul Hoo, commented:“In these very difficult worldwide economic times, INTRALOT’s confidence in the future of SVL represents a fulfillment of the vision of the founding shareholders in expanding SVL’s reach beyond the shores of Jamaica while at the same time allowing the company to remain a Jamaican Company while fulfilling the commitment that was made during our IPO.”
Mr. Brian George, CEO of SVL, stated: “As a strategic investor, INTRALOT will provide SVL with an expanded access to technology, along with further penetration into new markets and endeavours, and represents a vote of confidence in the management of SVL.”
INTRALOT, a public listed company, is the leading supplier of integrated gaming and transaction processing systems, innovative game content and sports betting management, to state-licensed gaming organizations worldwide. Its broad portfolio of products & services, its know-how of Lottery, Betting & Video Lottery operations and its leading-edge technology, give INTRALOT a competitive advantage which contributes directly to customers’ efficiency, profitability and growth. With presence in more than 50 countries, with 5,000 people and revenues of €1.1 billion for 2008, INTRALOT has established its presence on all 5 continents.