Supreme Ventures Racing And Entertainment

The decision to abandon these races, SVREL said, was made in compliance with regulations set forth by the Jamaica Racing Commission (JRC), leading to the refund of all related pools according to SVREL's Pari-mutuel rules.

According to the statement released by SVREL late Saturday, the abandonment of races number one and six, respectively, was declared by the stewards of the Jamaica Racing Commission (JRC) due to delays that exceeded the permitted time frame as stipulated by Rule 44(iii).

Specifically, in race number one, scheduled to commence at 12:00 pm, a saddling issue with horse number five and a mandatory veterinary check for horse number eight, which reared and fell after exiting the saddling barn, resulted in delays beyond the allowable limit.

Similarly, race number six, slated for 3:10 pm, was delayed due to a horse running loose, ultimately leading to its abandonment by the stewards of the JRC.

SVREL explained that the recent amendments to Rule 44(iii), which came into effect from April 1, 2024, mandate strict adherence to race start times with a maximum allowance of five minutes after the published post time. SVREL noted that Jamaica is unique in enforcing such a rule without prior consultation with the sole promoter of horseracing in Jamaica.

The enforcement of this rule has led to financial losses for industry stakeholders, including owners, trainers, jockeys, grooms, punters, and the promoter and as such the disruption caused by the abandonment of these races understandably resulted in unrest among stakeholder groups.

Despite the challenges faced, the race meet resumed with race number seven at approximately 4:00 pm, SVREL noted.

SVREL has now issued a sincere apology to valued customers and stakeholders for the inconvenience caused by the abandonment of races one and six by the JRC. SVREL also emphasized its readiness for open dialogue with the JRC and all impacted stakeholders to ensure the continued success and integrity of the horseracing industry.

As the sole promoter of horseracing in Jamaica, SVREL said it remains committed to addressing challenges collaboratively and upholding the highest standards of professionalism and service within the industry.

In a press conference on Monday addressing the abandoned races, SVREL Executive Chairman Solomon Sharpe expressed frustration with the rule, highlighting its potential impact on the racing industry.

"This rule, unique to Jamaica, imposes a strict five-minute limit after the published post time for races at Caymanas Park," Sharpe stated. "It fails to account for various factors that can delay race starts and penalizes all stakeholders when races are abandoned, affecting punters, jockeys, grooms, trainers, owners, promoters, and the government."

Last year, Caymanas Park contributed over $260 million in combined taxes to the government's coffers. Sharpe urged the JRC to engage SVREL in discussions on Rule 44, emphasizing the need for constructive dialogue to address the rule's impact.

"We were not consulted during the initial discussions on this rule, and now, with two races abandoned in a single race day, our concerns have materialized," Sharpe explained. "SVREL is open to collaborating with the JRC to review and refine this amended rule."

Representatives from the Grooms Association, Jockeys Association, and the United Racehorse Trainers Association echoed SVREL's concerns and supported the call for a review of Rule 44.

Sharpe concluded by appealing to regulators, stakeholders, and the public to support the growth of the horseracing industry in Jamaica. "Horseracing has immense potential in Jamaica and can become a significant foreign exchange earner. Realizing this potential requires collaboration among all stakeholders."

SVREL has been operating Caymanas Park since March 2017 after the government divested the property. With investments exceeding J$4 billion in product enhancements and innovations like the Mouttet Mile, which boasts the largest purse in the English-speaking Caribbean, SVREL remains committed to advancing the horseracing experience in Jamaica.

The five-year deals will see the Australia-based wagering technology company engaging SVREL in a one-of-a-kind partnership that will include construction of new infrastructure as well as event sponsorship until 2025.

The direct benefits of this agreement will see the construction of a trainers pavilion and feature-race sponsorship with BetMakers implementing, managing, and distributing a fixed odds betting solution that will give punters more choices when placing their bets.

BetMakers will enjoy sponsor benefits for the Triple Crown series, which comprises the 1000 and 2000 Guineas, the Jamaica Derby, the Jamaica St Leger and the Quarterly Championship as well as the naming of one race for each race day for the entire year.

Solomon Sharpe, Chairman of Supreme Ventures Racing and Entertainment Limited Chairman said the partnership will transform the local horseracing industry with Caymanas Park being one of the first tracks in the Western hemisphere to implement fixed-odds horseracing alongside tote betting.

In addition, this agreement, he said, reaffirms the strength of the Caymanas Park brand and its potential, which expands beyond the shores of Jamaica. Caymanas has started the journey to become the jewel of the Caribbean and the deal with BetmMkers will aid in propelling the company towards that goal, he said.

Further, he said, that the partnership will enhance the betting menu offered at the track and at OTBs while lauding the wide reach of the partnership that seeks to make an indelible mark on the facility itself with the new construction set to get underway in the New Year.

Meanwhile, Executive Chairman of the Supreme Ventures Group, Gary Peart, affirmed the importance of this partnership deal with BetMakers, the global leader in horseracing distribution and betting solutions.

“We see the fixed-odds horseracing revolution that BetMakers has championed in North America as being a huge benefit to the racing industry as a whole and we are very proud to be one of the first tracks that will implement the sophisticated fixed odds system they provide. This a major transformational change that will vastly benefit the betting public and all of the industry stakeholders,” Mr Peart said.

Caymanas Park has found winning ways with new variations to its bet types in recent months. The recent re-fix of the Sunrise Six to the jackpot-style Reggae Six has reinvigorated betting at the track and OTB’s islandwide.

The Reggae Six bet type has created scores of millionaires since its October-3 start date and has contributed to record-breaking revenues for the promotions company even as it grapples with the fallout from COVID-related closure earlier in the year and ongoing restrictions, such as crowd control.

“What they are bringing to the table for Supreme Ventures and Caymanas Park provides the racing industry in Jamaica with a tremendous boost and opportunity for growth,” Mr Peart said.

“Their commitment to be involved in the local horseracing industry in such an all-encompassing manner has set the stage for what will be a renaissance of Jamaican horse racing.”

Todd Buckingham, CEO of BetMakers says the deal with Caymanas Park is symbolic of its mission to globalize and modernize the horseracing industry.

“This is a very exciting deal for BetMakers and Supreme Ventures Limited, operators of Jamaica's sole racetrack, Caymanas Park. This deal illustrates BetMakers' plans for all its current and potential racetrack partners, and its aim of globalizing the horseracing industry,” he said.

He described the deal as a win-win with Caymanas Park being introduced to fixed-odds betting and local races broadcast across their Global Racing Network.

“Having the opportunity to work alongside Supreme Ventures in bringing fixed-odds betting on horse racing into Jamaica, while also exporting the Caymanas Park signal across our global racing network is a major coup for BetMakers. But what adds further excitement is the hands-on approach this deal entails”, Mr Buckingham said.

“BetMakers will use its knowledge of the vibrant Australian racing scene to work with Supreme Ventures in making Caymanas Park not only the jewel in the crown of Caribbean racing, but also in becoming a truly international racing destination, by having a gold standard product”, he said.

The Supreme Ventures Group actively began positioning Caymanas Park as a destination in 2020 by signing an agreement with Chukka Tours to include the historical track as part of its tours.

The Caribbean Pool is a Caribbean inter-island commingling platform that allows for Caribbean Tote operators to bet into each other, thereby creating bigger pools, bigger profits for its member partners, and most importantly, bigger payouts to its punters. 

The Pool will also facilitate greater cooperation and participation between the Caribbean Pool Operators with the aim of growing local racing both regionally and internationally.

 Chairman of SVL Gary Peart outlined what this agreement means for the company. 

“As we have been able to do for many of our other SVL brands, our goal for SVREL in 2022 is to continue our revenue growth through local, regional and international expansion. The Caribbean Pool aligns perfectly with our vision for the company and as such we are happy to participate as lead partner,” he said. 

With the two largest regional racetracks onboard and an expectation that the Barbados Turf Club will sign on as early as January 2022 and the Royal St Lucia Turf Club joining in as soon as they resume racing in 2022, the Caribbean Pool is set to delight Caribbean racing fans. 

Founder of The Caribbean Pool Kimani Robinson of the Kisero Group also reacted to the agreement.

 “Our vision was to create a new and exciting regional simulcast portal that would generate greater returns for the Caribbean track and pool operators as well as their punters,” Robinson added. 

Robinson, who noted that he first discussed the idea with SVL’s Chairman Peart where both men hammered out the constructs of the legal and technical structure required to make the platform a reality, added that regional merging is the future of horse racing in the Caribbean. 

“Regional commingling is the future of Caribbean horse racing. A regionally commingled platform will create greater relevance and awareness for the sport which means greater economic benefits for all. There is no reason why the Caribbean Pool shouldn’t replicate for horse racing what West Indies Cricket did for regional cricket,” he said. 

In terms of awareness, The Caribbean Pool has formed an alliance with the perfect regional media partners, the Caribbean's Home of Champions, SportsMax, who have agreed to become the home of all things Caribbean Pool and Caribbean Horse Racing.  

SportsMax CEO Nicolas Matthews confirmed that “racing fans will be in for a treat as SportsMax beefs up its Caribbean horse racing coverage via the Caribbean Pool. Given our regional strength, especially in the participating Caribbean Pool countries being contemplated and our ambition of providing our audiences with more of what they want, the Caribbean Pool is a perfect fit for us”. 

Along with coverage on their linear channels SportsMax and SportsMax2, SportsMax will include a dedicated channel within the SportsMax App called "SportsMax Racing" that will provide most of the Caribbean Pool’s racing content. 

“Our team has worked side by side with the Kisero Group for months in making the Caribbean Pool a reality,” commented SVREL CEO Lorna Gooden. 

“We are aggressively on a growth path for 2022 and though we have made significant headway in simulcasting our content internationally, we believe that regional growth for us will be faster and more responsive due to existing familiarity,” Gooden added, before expanding further on what the agreement demonstrates. 

“This agreement is a further demonstration of the commitment and drive of the Board and management at Caymanas Park to expand the product offering available to our punters, to promote and establish Caymanas Park as the horseracing mecca of the Caribbean,” she said. 

The Caribbean Pool is set to start in short order and is hoping to get all clearances and approvals granted for a soft launch over the Christmas holidays.

That six-race card marked the return of live racing after a one-week break, when horsemen opted not to nominate as a show of their discontent to a $27 million purse increase offer put forward by SVREL.

However, following a productive meeting and constant dialogue, both parties have reached a mutual agreement, paving the way for the resumption of full race cards, as TOBA encouraged its members to support nominations for the meet scheduled on Saturday, July 29, starting on Tuesday, July 25. This will be followed by an action-packed first week of August, featuring three race days in seven days, including the much-anticipated Jamaica Oaks and Jamaica Derby.

In a statement released on Sunday, July 23, TOBA said that having met with SVREL on Monday, July 17, following the Betting Gaming and Lotteries Commission's (BGLC) prior confirmation of the promoting company's 2022 sales figures of $5.32 billion on local racing, TOBA has agreed to continue working with SVREL and the Jamaica Racing Commission (JRC) to implement major initiatives towards negating the annual wrangling over prize monies.

In its statement, TOBA said it hoped that these initiatives, if successfully negotiated and implemented, including returning monies derived from the local-racing industry, will lead to a substantial and sustainable purse- money environment, as exists in other international racing jurisdictions, historically bringing Jamaica in line with North America, the United Kingdom and Hong Kong, jurisdictions which all access and thrive on purses supplemented by other consistent income streams.

This positive development will not only attract horse owners but also boost the excitement and engagement of racing enthusiasts across the country.