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Velimir Velichkov April 24, 2023 3 min read
Kindred Reports Decrease in Revenue from Harmful Gambling
The recent update for the first quarter of 2023 reaffirms the company's commitment in its Journey towards Zero, an initiative that seeks to eliminate the revenue from problem gambling
Kindred Group, a leading global gambling operator, released a new update, revealing that its revenue share from harmful gambling decreased for the most recent quarter. The company unveiled details Monday, revealing that its revenue from harmful gambling decreased to 3.0% for the first quarter of 2023, representing a 90-day period between December 20, 2022, and March 19, 2023.
The latest result marked an improvement when compared to the same period in 2022. For the first quarter of 2022, the company’s revenue from harmful gambling was 3.3%. This means that for Q1 this year, a decrease of 0.3% is observed.
Additionally, Kindred revealed that the use of technological solutions that helped detect at-risk gambling and allowed the company to engage with such clients reaffirmed a positive trend. The company confirmed that the improvement effect after interventions was 83.0%. This result, when compared to previous quarters, marked improvement. For example, the improvement effect after interventions halted at 82.1% and 82.6% in Q4 2022 and Q3 2022 respectively.
Efforts within Journey Towards Zero Continue
Tracking and at the same time reducing the revenue from harmful gambling is one of Kindred’s strategic sustainability goals. With this long-term commitment, the company leads by example by voluntarily implementing effective controls, processes and collaborating with its customers to reduce the revenue from harmful gambling.
To ensure transparency of the process, Kindred posts quarterly reports about the metrics related to revenue from harmful gambling. Ultimately, the company seeks to achieve zero percent revenue from harmful gambling, a goal that is expected to have a positive impact on societies and the industry as a whole.
“Going forward I look forward to following the holistic approach and collaboration across different teams within Kindred. Responsible gambling is not a factor only for one team, but it is something that every single employee contributes to through their knowledge and commitment to reducing harmful revenue.“Henrik Tjärnström, CEO of Kindred Group
Henrik Tjärnström, Kindred Group’s CEO, revealed that engaging with customers that are showing signs of at-risk or problem gambling is an ongoing commitment of the company. Moreover, he explained: “To prevent a harmful behavior, early intervention is critical, and I am glad that we can see result of the rollout of automated interventions that we have done in some of our markets.”
Focusing on the future, Tjärnström predicted that the company’s teams will continue to stand united and engage with customers that may be showing signs of at-risk gambling. He explained that reducing revenue from harmful gambling isn’t a priority for a single team within the company, but a goal for the whole Group. Finally, Tjärnström acknowledged the importance of technological solutions and the positive impact they may have in the Journey towards Zero initiative.