The firms relatives have emphasized the historical character of the error.
They have indicated that the social accountability and anti-money laundering shortcomings that prompted the UK Gambling Commission to levy a £7.1 million ($8 million/€8.8 million) fine on the firm for its 32 Red and Platinum Play brands were attributable to past problems.
The company has conceded that specific systems and procedures implemented in 2020 and 2021 “did not meet the Commission’s expectations regarding affordability.”
The operator also stated that it appreciated the Commission’s acknowledgment that its UK operations have enhanced since the investigation and remain suitable for holding a license.
“Although we accept the outcome and acknowledge that we have taken substantial steps to fortify our processes, we also recognize that we must do more to ensure that our business is secure and compliant,” remarked Henrik Tjärnström, CEO of Kindred.
He further added: “We value the Commission’s clear recognition that our operations are improving and that we remain suitable for holding an operating license.” “We are dedicated to minimizing gambling harm on our platform, which is a crucial aspect of our journey towards zero – we are intensifying our efforts to ensure we continue to make progress.”
The firm stated that similar instances of defects identified by authorities are improbable to occur at present due to implemented measures. The firm further mentioned that it has recruited additional personnel within its UK compliance and risk management division and continues to enhance processes.
The organization also declared that it has voluntarily enforced betting restrictions on specific products based on individual risk profiles, prohibiting customers deemed to be less financially capable from wagering at elevated levels.
Moreover, Kindred asserted that it continues to deploy automated interventions to enhance its response times to players exhibiting typical escalating risk profiles.
The operator stated that its “firm objective” in the upcoming months is to continue utilizing this work to integrate technological and data advancements into its responsible gambling framework.
The company indicated that it has observed a decrease in revenue generated by high-risk individuals since implementing the business’s safer gambling features.
Self-regulatory features
The newly introduced features encompass mandatory limits tailored to individual consumer risk profiles, including a more concentrated approach to players under the age of 25. The new “robust affordability framework” also signifies that the business will implement complete account blocks for players exhibiting signs of “substantial financial distress.”
Kindred has experienced a substantial decline in income within the United Kingdom, exhibiting a 57% reduction between the initial quarter of 2020 and the concluding quarter of 2022.
The organization emphasizes that a vast majority, 87%, of their interventions have resulted in more balanced gaming behaviors among customers. Furthermore, over half of UK gamers are currently utilizing responsible gaming tools on their own initiative.
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