Hurricane Melissa cost Supreme Ventures $4 billion in lost revenue

Supreme Ventures Limited (SVL) reported billions of dollars in foregone revenue due to Hurricane Melissa.

Disruptions led the gaming giant to post a fourth-quarter loss, but it still made stronger full-year earnings in 2025.

“The group estimates that approximately $4.0 billion in revenues were lost due to the hurricane and its aftermath,” Executive Chairman Gary Peart said in his address accompanying the release of financials. “Recovery efforts are ongoing.”

The company anticipates that the retail network will return to roughly 95 per cent of pre-hurricane levels by mid-second quarter.

The group recorded net profit of $1.8 billion, up 1.4 per cent from $1.78 billion in 2024, according to audited results. Profit attributable to shareholders was $1.85 billion, or earnings per stock unit of 70.08 cents, compared with 68.03 cents a year earlier. The fourth quarter showed a $5.7-million loss, reflecting storm-related disruption.

Revenue rose to $54.5 billion from $52.7 billion in 2024, driven by growth across sports betting and PIN codes, while lottery results softened against a prior-year, one-off tax adjustment. Gross profit edged down to $12.17 billion from $12.34 billion, but tighter cost control helped offset the impact. Selling, general and administrative expenses fell 4.0 per cent to $8.74 billion, aided by staff optimisation and reduced marketing spend.

Peart said the storm’s impact was unprecedented. “When we reopened… only 20 per cent of the terminals came on,” he noted, citing prolonged power and telecoms outages. By early November, 60 per cent of terminals were restored, though sales initially ran 50 per cent below pre-storm levels.

Melissa damaged up to 40 per cent of SVL’s Off Track Betting network, with losses exceeding $150 million. Caymanas Park alone accounted for about $130 million in repair costs, though simulcast racing resumed quickly and live racing restarted by mid-November.

Liquidity was bolstered by a $5-billion bond issue, completed just before the hurricane, allowing SVL to repay $3.5 billion in obligations and maintain cash flow. Cash and cash equivalents closed at $1.43 billion, while total assets rose to $22.98 billion from $21.05 billion. Capital stood at $5.0 billion, down from $5.3 billion a year earlier.

Tax and regulatory contributions remained substantial, with over $8.7 billion remitted to government agencies and good causes, about $900 million more than in 2024. Dividends of $1.78 billion were paid to shareholders.

Looking ahead, management emphasised resilience and structure. “Overall, the 2025 results reflect the group’s operational resilience, disciplined cost control, strong cash generation, and continued commitment to delivering sustainable value to shareholders and stakeholders alike,” the chairman’s update stated.

neville.graham@gleanerjm.com