International Game Technology (IGT) and Jamaican Supreme Venture Limited (SVL) have extended their business partnership by seven years.
IGT and SVL Extend Partnership by Seven Years
International Game Technology (IGT) has extended its agreement with Jamaica-based Supreme Venture Limited (SVL) by an additional seven years. During this time, IGT will continue supplying the Jamaican premier gaming and entertainment provider with lottery technology and content.
Prior to the extension, the contract between the two companies was set to expire in January 2026. The renewal has pushed the due date to at least the beginning of 2033.
IGT will also continue operating and maintaining SVL’s vital systems, which include its terminals and communication network. Furthermore, the deal also entails data center operations, a customer contact center, game design and development, and data analytics, among other things.
Both Companies are Confident in the Agreement
According to SVL Executive Chairman Gary Peart, this agreement represents a new chapter in the long relationship between the two partners. The deal also provides further support for SVL’s expansion, reinforces the company’s market position, and solidifies its place as an integral part of Jamaica, Mr. Peart continued.
IGT Chief Operating Officer for Lottery Jay Gendron has also lauded the continued cooperation between the two companies. Mr. Gendron believes that the deal will sustain SVL’s strong business momentum and player engagement, and ultimately benefit Jamaica itself.
IGT and SVL have been in a business relationship since 2001. This year marks the 20th anniversary of their cooperation, which will more than likely continue far into the future.
The island nation has a thriving gambling market. Despite its relatively small population, Jamaica sees a massive influx of tourists every year – an average of about 4 million annually. In the 2016/2017 financial period, the country’s total gambling revenue amounted to $40.4 million.