Kindred confirms revenue from harmful gambling halts at 3.3% for Q3

The globally recognized online gambling company operating in markets across North America, Europe and Australia, Kindred Group, released a new update, revealing details regarding its revenue from harmful gambling for the third quarter of 2023. Reporting the revenue from harmful gambling is a part of Kindred's Journey towards Zero, an initiative that seeks to reduce problem gambling revenue to zero.

The latest report emerged Tuesday and sees the company post 3.3% revenue derived from harmful gambling for Q3 this year. The company explained that the Q3 2023 result encompasses the 90-day period between June 18, 2023, and September 19, 2023.

The recent result represents a slight increase when compared to the second quarter of this year when the harmful gambling revenue was 3.1%. On the other hand, a comparison to the first quarter of this year shows that the result was on par. According to Kindred, the revenue from harmful gambling reported in Q4 last year was 3.5%. When compared to the latest result, a slight decrease is observed.

While the revenue from problem gambling in Q3 remains relatively on par with the figures from earlier this year, the company explained that there has been a notable increase in the improvement effect after interventions. Kindred confirmed that 86.7% of the customers that were detected improved their behavior after an intervention.

This result marked an uptick compared to the Q2 2023 result which was 86.4% and the Q1 2023 result which was 83.0%. Moreover, an overall positive trend is observed, considering that the improvement effect after the intervention was 82.1% for the fourth quarter of last year.

This positive trend underlines Kindred's commitment to proactively monitoring the activities of its customers and promoting safer gambling options for its growing customer base. While the company admitted that progress has been made toward reducing problem gambling, it added that more needs to be done to ensure the safety of all of its customers and continue to grow sustainably.

"The data for 2023 indicates that while the trend is consistent, more needs to be done. While Kindred continues to work actively to achieve a safer gambling experience for all customers, it also recognizes that further steps need to be taken to establish a long-term sustainable industry across all markets," explained the company.

Currently, Kindred is the parent company of nine iGaming and betting brands recognizable across the globe. The company has a growing customer base of more than 30 million clients.

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