Kindred says revenue from high-risk players in Q4 decreased

Kindred Group, a leading online gambling operator that consists of nine brands and a globally recognized company for its support of a sustainable industry, announced that its efforts toward reducing the share of the revenue from problem gambling continue to bring positive change. On Monday, the company revealed that for the fourth quarter of 2022, the share of revenue from harmful gambling decreased to 3.3%.

The latest result marked an important achievement for the company, considering that the revenue share from problem gambling from the previous quarter, Q3 2022, was 3.8%. Statistics released by the company revealed that in 2022, the revenue share from problem gambling remained around the 3% barrier, with Q1 and Q2 reporting the same 3.3% values as the result of Q4, 2022.

Still, the latest result complements Kindred's Journey towards Zero, an initiative launched by the company back in 2020. The unique initiative reaffirms the company's commitment to a sustainable industry as it seeks to reduce the share of revenue collected from problem gambling to zero by the end of this year.

Besides the decrease in revenue from high-risk players for Q4, 2022, a statement released by Kindred reveals that the company formed a Journey towards Zero Panel. This latest initiative is described by the company as a pilot project that will be guided by its UK-facing team.

The Panel itself consists of community members with lived gambling experience, as well as expert organizations within the vertical. Its members include EPIC Risk Management, BetKnowMore and DealMeOut.

Ultimately, the Panel will deliver invaluable insights and research for Kindred and assist in its Journey towards Zero plan. At the same time, the company explained that the Panel "will also serve as a platform for discussions and recommendations on how to improve progress towards zero." The new panel will benefit from the guidance of responsible gambling industry expert Maris Catania as Advisor on Responsible Gambling for Kindred.

Henrik Tjärnström, Kindred's CEO, shared his excitement about the latest announcements. He said that it is exciting to see the revenue from harmful gambling continue to decrease. Still, Tjärnström explained: "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."

The company's CEO acknowledged that it invested much into decreasing revenue from harmful gambling but more needs to be done too. At the same time Tjärnström said that the company sees the complexity of the task and outlined that despite difficulties, it remains fully committed to its Journey towards Zero goal. "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," he said in conclusion.

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