SVL writes to Gov't to take over ownership of Caymanas Park

Supreme Ventures Limited (SVL) wants to take over ownership of Caymanas Park and have written to the government to purchase the track, having identified us $100 million or approximately JA $16 billion to invest over 10 years to stem losses of millions.

Supreme Ventures Racing and Entertainment Limited (SVREL),  the sole promoter of horse racing in Jamaica, a subsidiary of SVL, reported losses of close $400 million in 2024 and executive chairman of SVL, Gary Peart is sounding an ominous warning.

SVREL leases Caymanas Park from the government under a 30-year agreement which can be extended by an additional 30 years. The lease includes land, facilities and racing infrastructure.

SVREL was required to pay a little over US $300,000 every March under the lease agreement and invest $500 million over five years to modernize and develop the 196 acre property.