Kindred Group continues to tackle problem gambling revenue in Q4, 2023

Kindred Group’s journey towards zero, as the company’s commitment to fully eliminate revenue that originates from problem gambling is called, has demonstrated two things. On the one hand, it has shown that self-initiative within big corporations could have a profound impact on the industry.

You may also call this self-preservation if you insist on being cynical, but the truth is that Kindred Group undertook this journey out of its own volition and with transparency as its modus operandi. Secondly, Kindred Group’s commitment was a wake-up call for the industry as to how hard the excision of problem gambling revenue truly is, something that industry bodies may be loath to admit.

The latest figure posted by the group in the fourth quarter of 2023, 3.1%, indicates that Kindred Group is on the right path, but that it still has a long way to go. For reference, Q3’s problem gambling revenue stood at 3.3%. Dropping even 0.2% has been celebrated within the company as an indication that the firm remains ready to continue delivering on its targets.

Yet, we have seen cyclicity throughout 2023, with a share of gross winnings revenue from high-risk players see-sawing between 3.3% and 3.1% in alternate quarters throughout last year. Optimistically, though, the company has demonstrated that it can do better over time, never mind the blips on the radar and temporary jitters over the same year. Since 2020, Kindred Group has been able to consistently and sustainably reduce the share of revenue derived from at-risk gamblers.

"Addressing the decline in revenue from harmful gambling requires a long-term view. It's important to note that our Journey towards Zero data has shown a steady decrease since 2020," said Kindred Group Directors of Communications Alexander Westrell. Although the numbers may seem a little underwhelming on the face of it, the message Kindred Group sends is clear.

If you think you have a problem with revenue derived from problem gambling, you may as well start addressing it now as this is a process that will take a fair bit, even when the best of intentions are observed, the logic goes. In the meantime, Kindred Group is mulling the €2.5bn bid made by counterpart La Française des Jeux who is looking to buy out the company outright and assume over 90% stake in it.

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