Q2 Results Reflect Kindred’s Journey Towards Zero Efforts

Kindred's Journey Towards Zero
Kindred Group's Q2 2023 results reveal a decline in harmful gambling revenue, underscoring their robust commitment to fostering a sustainable iGaming industry.

Embodying its commitment to fostering a sustainable betting industry, Kindred Group Plc continues to make strides in minimizing harmful gambling. The company reported its share of revenue from harmful gambling at 3.1% in Q2 2023. This is a notable decrease compared to previous quarters, reflecting the efficacy of Kindred’s intervention programs, which achieved an improvement effect of 86.4%.

Kindred launched its “Journey Towards Zero” campaign in February 2021. This initiative represents the company’s ambition to generate zero percent revenue from harmful gambling.

A cornerstone of Kindred’s responsible gambling policy, the campaign consistently measures and discloses the share of revenue from harmful gambling and the impact of their interventions.

The latest data reveal a declining trend in revenue from high-risk players from 3.8% in Q3 2022 to 3.1% in Q2 2023.

Correspondingly, the improvement effect after interventions has risen from 82.6% to 86.4% over the same period. This ongoing progress testifies to the effectiveness of Kindred’s responsible gambling measures.

Transparency and Collaboration Key to Addressing Harmful Gambling

Kindred’s Interim CEO, Nils Andén, emphasized the importance of their efforts, “Our ‘Journey towards Zero’ ambition is an important parameter for Kindred and our ability to contribute towards a fact-based dialogue on how to establish a more sustainable gambling industry.

Andén added that the key to success is the collaboration with industry stakeholders, including treatment centers like Sweden’s Spelfriheten, to collectively address the issue of harmful gambling.

However, this path is not without challenges. The company acknowledged a miscalculation in its previously reported figures for Q4 2022 and Q1 2023 due to data handling errors during a system update for self-excluded customers. This issue has since been rectified.

Kindred’s Journey Towards Zero: Effects on the iGaming Industry

The strategies adopted by Kindred could have far-reaching implications for the broader iGaming industry:

  • Redefining Responsible Gambling: Kindred’s “Journey Towards Zero” approach could become a blueprint for other companies. Its continuous and public tracking of revenues from harmful gambling sets a new industry standard in transparency.
  • Improved Player Protection Measures: The successful reduction in harmful gambling revenue indicates that effective intervention measures can indeed protect high-risk players. The improvement effect statistics underscore the potential for other firms to replicate this success.
  • Enhanced Credibility Through Transparency: By acknowledging previous data miscalculations and implementing corrective measures, Kindred demonstrates its commitment to transparency. This can bolster the company’s reputation, inspiring trust among players and stakeholders alike.

In conclusion, Kindred’s latest report underscores its commitment to combat harmful gambling and shed light on its progress. The broader iGaming industry can certainly draw lessons from this approach, potentially fostering an era of greater transparency, which is already a 2023 trend across the whole industry, with enhanced player protection, and corporate responsibility.

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Elly Smith

Elly Smith

Elly Smith is a journalist working full time for iGamingTrends.com. She is passionate about covering trends and new tech the iGaming industry.