Kindred's Journey towards Zero - A Commitment to Responsible Gambling
Kindred Group is reiterating its commitment to creating a sustainable and responsible gambling industry. In Q4 2022, Kindred saw a decrease in revenue from harmful gambling, dropping from 3.8% in Q3 to 3.3%. This is a deviation from the usual trend, as the holiday season often results in an increase in high-risk gambling. The decrease was achieved through improved outreach to younger customers and enhancing existing measures to reduce harmful gambling, leading to fewer faulty customer detections.
After contact with Kindred's responsible gambling team, 82.1% of detected customers showed improved gambling behavior. This aligns with previous quarter results, highlighting the effectiveness of intervention efforts.
*90-day rolling period between 1 October and 31 December 2022
I'm glad to see that the share of revenue from harmful gambling is once again on a downward trajectory. 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. While we have put in a lot of hard work, we have not seen the development needed to deliver on our 2023 ambition.
Despite this, we remain firmly committed to our Journey towards Zero and to do the heavy lifting needed to reach this ambition. We have known from the beginning that we would not solve this overnight, and we continue to acknowledge the complexity of the task. 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.
However, Kindred remains committed to its "Journey towards Zero" goal, where 0% of revenue will come from harmful gambling. The company is taking action to reach this goal by forming the "Journey towards Zero Panel" in the UK, made up of expert organizations from across the gambling industry. The panel will provide guidance on how to improve progress and serve as a platform for discussions on responsible gambling.
Kindred has also been working with ATG and Svenska Spel to publicly disclose joint responsible gambling data, demonstrating the positive impact of the company's commitment to responsible gambling. Tjärnström hopes that this initiative will inspire similar ones across other markets.
The Journey towards Zero Panel will host focus groups and workshops with panelists to gain their perspectives on reaching Kindred's goal and assess the PS-EDS system for areas of improvement. Kindred will keep the public updated on the panel's progress.
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