Kindred Sees a Sequential Decrease in Revenue from High-Risk Players and Introduces a Journey Towards Zero Panel
MALTA (February 6, 2023) — Kindred stands firm in its commitment to contributing to a sustainable industry across all markets. In the fourth quarter of 2022, Kindred’s share of the revenue from harmful gambling decreased to 3.3 per cent, compared to 3.8 per cent in the third quarter. The quarter has seen an increased focus on collaboration, with the launch of a new initiative on disclosing data and the Journey towards Zero Panel.
In February 2021, Kindred Group plc (Kindred) committed to its Journey towards Zero, making zero per cent revenue generated from harmful gambling an integrated part of its group strategy. The past two years have been focused on internal alignment and accelerating the work underlying the process of getting there. While improvements continue to be made, the journey is longer and more challenging than first expected.
The share of the revenue from harmful gambling decreased from 3.8 per cent in the third quarter to 3.3 per cent in the fourth quarter of 2022. This is a positive deviation from the trend, as the last quarter of the year generally sees an increase in high-risk gambling due to the holiday season. By comparison, the share of the revenue from harmful gambling was 4.0 per cent in the fourth quarter of 2021. The decrease was due to an improved approach towards the younger demographic, reducing harmful gambling and improving existing interventions, resulting in fewer faulty customer detections.
During the quarter 82.1 per cent of detected customers saw improved gambling behaviour after contact was made by Kindred’s responsible gambling team. This is in line with levels from previous quarters and serves as another testament to the importance of intervention efforts.
Global statistics from Kindred Group
|Q1 2022||Q2 2022||Q3 2022||Q4 2022*|
Share of gross winnings revenue from high-risk players
|Improvement effect after interventions||
*90-day rolling period between 1 October and 31 December 2022
“I’m glad to see that the share of the revenue from harmful gambling is once again on a downward trajectory. However, as we review the trend over these past two years, it is clear that there is still significant fluctuation and that the curve has not been as steadily declining as we hoped. While we have put in a lot of hard work, we have not seen the development needed to deliver on our 2023 ambition. Despite this, we remain firmly committed to our Journey towards Zero, and to do the heavy lifting needed to reach this ambition. We have known from the beginning that we would not solve this overnight and continue to acknowledge the complexity of the task. That being said, we are very happy that we set an ambitious goal, as it has served as a catalyst for our development and prompted us to pick up the pace”, says Henrik Tjärnström, CEO of Kindred Group.
“It’s also pleasing to see how the ambition we set two years ago has inspired the industry to become more transparent on this topic. The initiative we presented together with ATG and Svenska Spel in October 2022, with all three companies publicly disclosing jointly responsible gambling data in January 2023, is a testament to this. I hope we can see similar initiatives and collaborations across more markets”, continues Tjärnström.
To further support the important work, Kindred has formed the Journey towards Zero Panel – a pilot project being driven by the team in the United Kingdom. The Panel is made up of a diverse range of expert organisations from across the gambling community and lived experience. Initial members of the Panel include BetKnowMore, DealMeOut and EPIC Risk Management – with Maris Catania, Advisor on Responsible Gambling at Kindred Group, also joining to provide research expertise and long-standing knowledge of Kindred’s Journey towards Zero project. The Panel will not only ensure that Kindred stays on track with its Journey towards Zero by taking expert advice and guidance from members of the Panel, but it will also serve as a platform for discussions and recommendations on how to improve progress towards zero.
“EPIC has been working with Kindred for some years now and recently extended that partnership to provide expert insight and consultation to help their Journey towards Zero. We want operators to be ambitious in their safer gambling endeavours and encourage collaboration across the industry to achieve this. We are delighted to be able to provide this further consumer insight that ultimately will lead to better player protection,” says Daniel Spencer, Director of Safer Gambling at EPIC Risk Management.
“The Journey towards Zero Panel is a groundbreaking and important piece of work. It is an honour to support it, and it will be an excellent opportunity for many with a wealth of experience from across the sector to ensure Kindred are best equipped to prevent gambling harm”, adds Jordan Lea, CEO of DealMeOut.
In its first iteration, the Panel will host a number of focus groups and workshops with panellists to hear their views on how best to reach Kindred’s ambition – as well as assess the PS-EDS system (Player Safety – Early Detection) to understand areas for improvement and further collaboration. Kindred will report on the progress of the Panel in the coming months.
More information about Kindred’s Journey towards Zero can be found on www.kindredgroup.com/zero
For more information:
Maria Angell Dupont, External Communications Manager, Kindred Group, firstname.lastname@example.org, +46 72 165 15 17.
About Kindred Group
Kindred Group is one of the world’s leading online gambling operators with business across Europe, North America and Australia, offering over 30 million customers across 9 brands a great form of entertainment in a safe, fair and sustainable environment. The company, which employs more than 2,000 people, is listed on Nasdaq Stockholm Large Cap and is a member of the European Gaming and Betting Association (EGBA) and founding member of IBIA, International Betting Integrity Association. Kindred Group is audited and certified by eCOGRA for compliance with the 2014 EU Recommendation on Consumer Protection and Responsible Gambling (2014/478/EU). Read more on www.kindredgroup.com
SOURCE: Kindred Group.Tags: Kindred Group, High-Risk Players, Zero Panel, harmful gambling, gambling behaviour