The promoter of local racing, Supreme Racing and Entertainment Limited (SVREL) has made a major step in increasing its earnings of their regular racing product offered at Caymanas Park.
Last Saturday, (Saturday, September 21, 2019), SVREL exported its signal of local racing on the New York Racing Association’s (NYRA) platform of betting outlets including the famed and storied Belmont race track.
This new development comes after several trial runs of the local signal during the course of this year albeit without the attachment of the betting component.
“That has now changed as of last Saturday, we officially exported our local racing signal with betting options available overseas for those wanting to wager.
“All of the wagers received by way of the exported signal went through the local tote system and found manifestation on the final odds of horses racing on Saturday at Caymanas Park.
“I can further report that on our first entry on the NYRA platform we earned just under $500, 000. And, while that amount might not be a lot based on our usual take or handle for the 10 races that were offered at Caymanas Park, it is a start, in fact, it was a promising start and the hope now is for this amount to increase with time and promotion and already we have seen an upward movement.
“On the mid-week card (10 races), we again exported to the NYRA platform, earning, this time, over $600,000,” Solomon Sharpe chairman of SVREL shared.
Sharpe in explaining the significance of the exported signal with its various betting options further informed that SVREL with the NYRA and Guyana platforms already in place, is now in serious negotiations to export the local signal with betting to other racing jurisdictions in North America.
“For us, at SVREL this is a significant development in increasing our earnings to further grow racing in Jamaica and for sure we will be looking to tap into other markets,” Sharpe offered.
The Supreme Racing Guide reported on its pages that SVREL had started to export its local racing signal earlier this year to racetracks operated by Stronarch Group which includes Santa Anita, Gulfstream Park, Golden Gate Fields, Pimlico, Laurel Park among others. Those were test runs and were exported without the availability of betting options.
“What I can say now is that SVREL is still in negotiations with other overseas interests. The process of negotiating is not a slam dunk situation, instead, we are taking our time to get all the relevant variables sorted to the satisfaction of all concerned. It does not happen overnight. That is why we had to upload our signal on the various platforms for our overseas clients to check the quality of the signal among other issues. It is a long process that takes time, so, negotiations are ongoing and we are doing everything possible including making changes to our website which is also an ongoing process right now.
“We are committed to this task of growing our revenue, so we are negotiating, dotting all the i’s and crossing all the t’s to ensure that when the start button is pushed, we are ready to go,” a confident Sharpe stated.