Chairman of Supreme Ventures, Paul Hoo. (Gleaner Company photo)
Supreme Ventures Limited has been granted a 10 year extension of its lottery license.
Approval was granted by the Betting, Gaming and Lotteries Commission.
However, the extension has been accompanied by amendments to the conditions of the license.
Under the new terms, Supreme Ventures is required to invest at least US$5 million in upgrading and expanding its lottery and gaming operations in Jamaica.
Paul Hoo, the Chairman of Supreme Ventures, said the company has a strategic plan for its growth and expansion which require significant investment in partnership with its technology suppliers.
Mr. Hoo said during the period of the extended lottery license Supreme Ventures will contribute more than $17 billion to the CHASE fund and provide additional jobs.
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