The proportion of income generated by problematic gambling for Kindred increased during the third quarter.
Kindred Group reported a minor rise in the portion of revenue derived from problematic gambling in the third quarter. They have also collaborated with Epic Risk Management to assist individuals struggling with gambling issues.
The percentage of revenue from problematic gambling for Kindred rose in the third quarter.
Over the three-month period between June 21 and September 19, Kindred stated that the share of revenue from problematic gambling was 3.8%, an increase from 3.3% in the first and second quarters, and also higher than 3.3% in the third quarter of the previous year.
Kindred also mentioned that the number of customers who experienced improvement after seeking assistance declined from one quarter to the next. In the third quarter, 82.6% of customers showed improvement, down from 84.7% in the second quarter and 83.1% in the first quarter. However, this represents a significant improvement compared to 64.9% in the third quarter of 2021.
Kindred aims to reduce the proportion of revenue from problematic gambling to 0% by the end of 2023. They acknowledge that this will be challenging but remain committed to achieving this objective. To facilitate this, Kindred has identified four key areas where they need to continue their efforts.
These steps involve decreasing the time between identification and action, continuing to invest and work with researchers to gain a deeper understanding of gambling behavior, ensuring the visibility, comprehension, and proper use of control tools, and increasing transparency and knowledge sharing among the industry, customers, researchers, regulators, and partners.
Considering these factors, Kindred has formed a new partnership with Epic Risk Management to analyze and further enhance human intervention methods. Kindred states this collaboration will help ensure that human intervention measures are more precisely targeted and encourage customers to develop healthier betting habits.
Kindred CEO Henrik Tjärnström stated, “We did not observe the expected growth trend this quarter, but we have made substantial progress since launching our objectives in 2021.”
“We have strengthened internal procedures and coordinated operations to continue moving toward our goal of zero revenue from harmful gambling.”
Beyond 2023
Tjärnström added that the operator will continue its efforts beyond 2023 to attempt to achieve zero revenue from harmful gambling.
“We will continue to improve our technology and processes to enhance our effectiveness and speed in identifying and interacting with at-risk customers.
“We are on a long-term journey and our commitment will continue beyond 2023, but partnerships such as the one with Epic are essential for our future growth.”
They provided distinctive perspectives from which we can learn the most effective methods for managing the negative consequences related to gambling on a personal level.
Maris Catania, the leader of Responsible Gambling and Research at Kindred, spoke to iGB recently about the implementation of this project. Dan Spencer, the Director of Safe Gambling at Epic, added: “I am thrilled to be able to renew and expand our collaboration with Kindred for the next three years. Kindred was the first operator we partnered with, and they continue to demonstrate their dedication to player protection by valuing the opinions of those with firsthand experience.
“Kindred has exhibited great ambition in decreasing revenue from high-risk players, and this partnership will ensure Epic continues to play its role by providing top-tier advisory services.”
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