Fresh out the blocks of 2025, Gaming giant Supreme Ventures is making operating cost cuts, starting with its senior executives.

It has decided to say goodbye to its head of marketing Kamal Powell, head of finance Anthony Litchmore and head of human resources (HR) Sasha-Kay Burke.

Our Today understands they will be released from their duties in the middle of January.

Supreme Ventures is making a concerted effort to rein in expenses and as is often the case with corporations, the group has begun with its payroll.

The group reported a net profit of J$358 million for Q3, 2024, a decline of $29.6 million or eight per cent compared to the third quarter of 2023.

What may have led to the decision to cut the senior executives is the uptick in general and administrative expenses which climbed to $1.84 billion for the period under review. Supreme Ventures posted a figure of $1.829 for Q3 in the prior year.

Those expenses take on added gravity against the backdrop of the impact of Hurricane Beryl and the damage wrought on its retail networks, particularly in Manchester, St. Elizabeth, Westmoreland and Clarendon.

Supreme Ventures has had to turn to investments in equity securities in an effort to cover gaps. It is here that its association with Mayberry paid dividends. Supreme Ventures recognised unrealised fair value gains of $169.2 million and earnings of $21.9 million in dividends for the third quarter.

According to the Statistical Institute of Jamaica (STATIN), the domestic economy declined by 3.5 per cent in the third quarter (July-September) and this would have impacted the gaming industry. Disposable income would have fallen off as people look to focus on the vitals and therefore park gaming.

Then again it is said that when things are tough, that’s bonanza time for gaming players.

Supreme Ventures lost approximately J$1 billion in gross ticket sales due to Hurricane Beryl.

The group, headed by Gary Peart, will not want to concede too much ground to competitors and will assiduously look to maintain its dominant position.

It has made forays into Africa, particularly Ghana. The question is will it push ahead in that continent or fall back as it recalibrates? Supreme Ventures will be looking to make strides in the less costly digital gaming arena.

In this respect, one would have thought it would ramp up its marketing efforts.

Kamal Powell left J. Wray & Nephew to take up the position of head of marketing at Supreme Ventures in November 2023.

In a sixteen-year carrer and still only 40, Powell has held senior marketing positions at Red Stripe Jamaica National, Digicel and J.Wray & Nephew. He is recognised as one of the best marketing talents in Jamaica.

Supreme Ventures has invested J$250 million in revamping the Acropolis gaming lounge in Barbican, Kingston. It has closed the Acropolis it had in Montego Bay with immediate effect due to the current economic challenges.