Published: June 20, 2022

Lottery company SVL developing network of stores in Jamaica that will offer agent banking services

Lottery and gaming company Supreme Ventures Limited has set up a flagship store at Twin Gates Plaza in Kingston, through which the group will offer multiple services sold by its various businesses.

The store has been operating for about a month in the space formerly vacated by CIBC FirstCaribbean Bank during the pandemic, but will be officially launched today, Friday.

It’s the first of a network of about five special-service stores that CEO of Prime Sports Jamaica Xesus Johnston says the company intends to build out. Prime Sports is SVL Group’s main gaming subsidiary.

“It will offer more than just the gaming products,” said Johnston.

“There’s the customer-facing piece in gaming, but we also have walk-in and sit-down spaces for McKayla, where people can get loans,” Johnston says. McKayla is the company’s microlending business.

SVL Group spent upwards of $80 million to renovate the former bank branch which was closed in January 2021. The location has proven ideal, according to Johnston. Without elaborating, he says the former bank branch has certain amenities that will allow SVL retailers to offer agent banking services.

“We want four more like that. We’re looking for at least four more bank branches that we can convert, so that we can offer these services,” Johnson said, but declined to disclose the town’s targeted.

The new Twin Gates centre has 5,000 square feet of floor space with a mezzanine level for offices. The new flagship store will also become SVL’s large-prize payment centre. The former prize centre at the R. Danny Williams Building in New Kingston is now occupied by a retailer and will continue to offer SVL products, he said.

Twin Gates is the second new store being opened in under six months, bringing the network of convenience centres to 10 nationwide, Johnston said.

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