Kindred: Harmful Gambling Revenue Halts at 3.1% In Q2 2023

The globally-recognized gaming and entertainment company, Kindred Group, released its latest report, outlining the share of gross winnings revenue from high-risk players for the second quarter of 2023. On Monday, the company released its report, revealing that the share of revenue from high-risk players in Q2 this year was 3.1%. At the same time, Kindred confirmed that the improvement effect after interventions increased to 86.4%.

Upon releasing its revenue from harmful gambling report, the company also confirmed corrections for the previously reported percentage of revenue from high-risk players for the fourth quarter of 2022 and the first quarter of 2023. Kindred confirmed that initially, the revenue from harmful gambling for Q1 this year was 3.0% but after the correction, that figure was amended to 3.3%. Similarly, a slight correction was applied for the Q4 2022 revenue from harmful gambling which was initially reported as 3.3%. This figure changed to 3.5% with the latest correction.

Judging by a statement released by Kindred, the correction was needed due to a miscalculation that resulted in “inaccurate numbers for the share of revenue from harmful gambling for Q4 2022 and Q1 2023.” The company added: “The miscalculation was due to a data handling error in connection to an update of the data reporting on self-excluded customers and has since been resolved.”

The Company Keeps Focus on Journey Towards Zero Initiative

Despite the slight correction, the report reaffirms that the share of gross winnings revenue from high-risk players continues to decrease. The newly released report is a part of Kindred’s ongoing commitment to reduce the share of revenue from harmful gambling. The initiative, which is the first for the gambling sector, is called Journey towards Zero and was announced back in 2021.

At the time, the company said that it will focus on reducing the share of revenue from harmful gambling and report its progress quarterly. As a global gaming company, Kindred leads by example with this unique initiative that seeks to protect consumers and shrink the revenue derived from at-risk or problem gambling.

“Our ‘Journey towards Zero’ ambition is an important parameter for Kindred and our ability to contribute towards a fact-based dialogue on how to establish a more sustainable gambling industry.“

Nils Andén, interim CEO of Kindred Group

Nils Andén, Kindred’s interim CEO, explained that the company’s Journey towards Zero initiative seeks to engage in fact-based dialogue that can contribute toward the development of a sustainable gambling sector. “It also acts as a fundamental metric in Kindred’s internal efforts to improve our responsible gambling efforts,” he added.

Andén pointed out that Kindred is aware that the development of a sustainable gambling industry cannot be achieved instantly. Finally, he spoke about the positive impact of collaborations between the gambling sector and industry stakeholders that can ultimately reduce problem gambling.