Kindred Show Zero Harmful Gambling Revenue Progress in Q2 2023
LISTEN TO THIS ARTICLE:In a continuing effort to create a sustainable and responsible gambling industry, Kindred Group plc (Kindred) has released its latest quarterly report on the share of revenue generated from harmful gambling.
According to the report, in the second quarter of 2023, the company's revenue from harmful gambling accounted for 3.1 percent, marking a significant step forward in its "Journey towards Zero" ambition. The improvement effect after interventions stood at an impressive 86.4 percent.
| Global statistics from Kindred Group | Q3 2022 | Q4 2022* | Q1 2023** | Q2 2023 |
| Share of gross winnings revenue from high-risk players | 3.8% | 3.5% | 3.3% | 3.1% |
| Improvement effect after interventions | 82.6% | 82.1% | 83.0% | 86.4% |
90 day rolling period between 20 March 2023 and 17 June 2023
Kindred's commitment to reducing harmful gambling is at the core of its responsible gambling initiatives. The company's ultimate goal is to achieve zero percent revenue from harmful gambling, and this quarterly disclosure of progress aims to increase transparency and foster a fact-based dialogue about responsible gambling practices within the industry.
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. It also acts as a fundamental metric in Kindred's internal efforts to improve our responsible gambling efforts.
Determined to Mitigate Harm
However, Andén acknowledged that achieving this ambitious target will take time and collective efforts from all stakeholders in the gambling industry. Collaboration with organizations like the Swedish treatment center (Spelfriheten) has proven to be a critical success factor in addressing harmful gambling issues. By combining complementary expertise, Kindred and Spelfriheten work together towards a common goal of mitigating the negative impact of gambling on vulnerable individuals.
Kindred's commitment to responsible gambling began with the launch of its "Journey towards Zero" initiative in February 2021. Since then, the company has been regularly disclosing the share of revenue generated from harmful gambling and the effectiveness of its interventions on a quarterly basis. The latest report for the second quarter of 2023 reflects substantial progress, demonstrating the company's dedication to sustainable gambling practices.
Technical Enhancements for Further Progress
However, the company also acknowledged a recent miscalculation in its previous reports. The share of revenue from harmful gambling for Q4 2022 and Q1 2023 was inaccurately reported due to a data handling error connected to an update of the data reporting on self-excluded customers. The issue has been identified and resolved, and Kindred aims to ensure accurate and reliable reporting moving forward.
While focusing on its ambitious goal, Kindred also highlighted the need for continuous development and improvement of monitoring harmful gambling patterns. As a result, historical and comparative data may be subject to changes as the company refines its responsible gambling efforts.
Kindred Group's commitment to transparency, accountability, and sustainability in the iGaming industry sets a positive example for other operators. By working towards eliminating harmful gambling practices, the company aims to be a trusted source of entertainment that contributes positively to society. As the industry continues to evolve, Kindred's dedication to its "Journey towards Zero" ambition paves the way for a more responsible and sustainable future for gambling.
More Finance News
RELATED TOPICS: Finance
Latest News
Most Read
Must Read
Interviews
Review this New Post
Leave a Comment
User Comments
Comments for Kindred Show Zero Harmful Gambling Revenue Progress in Q2 2023