Mon | Sep 27, 2021

Supreme Ventures to monetise new tote board

Published:Tuesday | February 16, 2021 | 12:25 AMLivingston Scott/Gleaner Writer
A view of the old tote board from the stands at Caymanas Park. The structure is being dismantled in order to be replaced by a new digital board.
A view of the old tote board from the stands at Caymanas Park. The structure is being dismantled in order to be replaced by a new digital board.
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General Manager Lorna Gooden says Supreme Ventures Racing and Entertainment expects the new digital display board to become a source of revenue when installed at Caymanas Park.

Although she would not go into details, Gooden Said that Supreme Ventures is looking at its advertising possibilities.

“We are a public company that trades on the stock exchange, so there is certain information about revenue that I cannot speak to, and talking about future (projections) makes it even worse,” Gooden said. “But all I can say on it is that we are looking at it as a potential revenue stream. So that (it will be used for advertising) is certainly right.”

The new tote board will cost an estimated $40 million, but Gooden said that overall costs could run up to $60 million to dismantle the old board, which has been in place for over 30 years, and establish the new digital screen.

“It would have cost US$15,000 (over J$2 million) to repair each section of the old tote board, so when you put that cost together, it makes sense you just completely replace it,” Gooden said.

NO DEFINITE COMPLETION DATE

No timeline has been set for the project to be completed, however, work has already begun with the demolition of the board, which will be installed further infield.

“I cannot give a timeline because we are coming out of COVID, and we have to work over some internal processes.

“But we are hoping that as soon as it is practical and possible, we will be able to do so. But for now, I cannot give an exact timeline,” Gooden said.

Although the board has been out of commission since August 2019 and long needed repair, Gooden says that its replacement has been part of Supreme Ventures’ plans to modernise the infrastructure at the facility.

“We are modernising Caymanas Park, taking it into the 21st century and beyond, and trying to position ourselves for the international market,” she said.

“So this is in keeping with international standards because if you look at Gulfstream, Santa Anita, and Aqueduct (racecourses overseas), they are not using those boards any more. The only place that still uses it is Turf Paradise (in Arizona). So we are moving to modernise.”

livingston.scott@gleanerjm.com