Kindred Group reports decline in revenue from harmful gambling in Q3
Stockholm-listed operator provides update on target to reach 0% of revenue from harmful gambling by the end of 2023
Kindred Group has reported a decline in the share of quarterly gross winnings revenue earned from harmful gambling behaviour for Q3 2021.
In the third quarter, the share of revenue derived from harmful gambling came in at 3.3%, a full percentage point lower than in Q2 of this year (4.3%).
The 3.3% figure was based on the 90-day rolling period between 23 June and 20 September 2021.
Kindred has set an ambition to reach zero percent of revenue from harmful gambling by the end of 2023.
The Stockholm-listed operator has said it will report the harmful gambling figure each quarter to contribute to fact-based dialogue about gambling harms and raise awareness of the operator’s sustainability work.
“We are pleased to see that the percentage of revenue coming from harmful gambling has decreased,” said Henrik Tjärnström, CEO of Kindred Group.
“While we welcome this decrease, we do understand that we still have to work hard to further decrease this number.
“In line with our roadmap, our operational teams have worked to implement more proactive customer interactions and this has resulted in an increase in the use of control tools to help customers stay in control,” he added.
Tjärnström explained that the business has set up a new procedure to de-risk play for customers aged between 18-24 as this demographic is “at a higher risk financially” and “more prone to addiction”.
Earlier this month, Kindred head of responsible gambling and research Maris Catania, alongside her PhD tutor, Professor Mark Griffiths, published a peer-reviewed research paper that examines the application of DSM-5 criteria for gambling disorder to actual online gambling behaviour.
This notion and approach are the basis for the ideology behind Kindred’s behavioural monitoring system.
Kindred has said it will continue to work on publishing more research to increase the transparency of information through empirical studies.
“To limit harmful gambling, the behaviour has to be identified in the first place,” said Professor Griffiths of Nottingham Trent University, who is also a responsible gambling adviser to Kindred rival Entain.
“Our research provides Kindred with actual examples of the types of behaviour engaged in by problem gamblers, which could be used by the player protection team to identify potential markers of harm,” Griffiths added.