Supreme Ventures Limited, the Jamaican-based regional gaming giant has acquired more equity in its subsidiary, Supreme Route Limited, which also operates in the Jamaica gaming space.

Supreme Ventures, which dominates the gaming space in Jamaica has acquired a further 29 per cent equity in Supreme Route Limited formerly named Bingo Investments Limited, bringing its total equity stake to 80 per cent.

The purchase was made through another Supreme Ventures subsidiary, Prime Sports (Jamaica) Limited.

When contacted, a reliable source at Supreme Ventures informed Our Today that this new block of shares acquired by Supreme Ventures was bought from the allotment of shares given over when the regional gaming company acquired its competitor in Jamaica, Champion Gaming Limited in January 2020.

The announcement of the acquisition of the shares was made via a notice to the Jamaica Stock Exchange (JSE), where Supreme Ventures is a publicly-traded company. Supreme Route Limited operates video gaming terminals and video slots, which are situated at licensed establishments such as bars and restaurants.

Supreme Route Limited has a staff complement of over 170 spread across all of its locations, generating over US$7.77 million in annual sales.  The transaction involving the purchase of Champion Gaming involved a cash transfer of $1.42 billion cash and an allotment of 49 per cent equity in Supreme Route Limited, valued at $1.36 billion.

It is from this allotment that Supreme Ventures has acquired this 29 per cent equity.