Kindred sees revenue from harmful gambling decrease to 3.3% in Q4, 2022; Journey Towards Zero Panel launched

Kindred announced Tuesday that the share of revenue from harmful gambling for the fourth quarter of 2022 decreased to 3.3%, compared to 3,8% in the third quarter. During this period, an increased focus on collaboration was seen, with the launch of a new initiative on disclosing data and the Journey Towards Zero Panel.

In February 2021, Kindred Group committed to its Journey towards Zero, making 0% of revenue generated from harmful gambling an integrated part of its group strategy. The past two years have been focused on internal alignment and accelerating the work underlying the process of getting there, the company says.

The group explained in a press release that, while improvements continue to be made, the journey is longer and more challenging than first expected. However, the share of revenue from harmful gambling decreasing in Q4 is a positive derivation from the trend, as the last quarter of the year generally sees increases in high-risk gambling due to the holiday season. 

By comparison, the share of revenue from harmful gambling was 4% in the fourth quarter of 2021. The decrease was due to an improved approach towards the younger demographic, reducing harmful gambling and improving existing interventions, resulting in fewer faulty detections, the company claims.

During the quarter, 82.1% of detected customers saw improved gambling behavior after contact was made by Kindred’s responsible gambling team. This is in line with levels from previous quarters and "serves as another testament to the importance of intervention efforts," according to the operator.

Henrik Tjärnström, CEO of Kindred Group commented: “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,” he added.

“We have known from the beginning that we would not solve this overnight and 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,” he noted.

Tjärnström also said it is “pleasing to see how the ambition we set two years ago has inspired the industry to become more transparent on this topic.” The executive highlighted an initiative the company presented with ATG and Svenska Spel in October 2022, which led all three firms to publicly disclose responsible gambling metrics for the Swedish market in January 2023. 

To further support its endeavors, Kindred has formed the Journey Towards Zero Panel, a pilot project being driven by a team in the United Kingdom, made up of a diverse range of expert organizations from across the gambling community and lived experience. 

Initial members of the Panel include BetKnowMore, DealMeOut and EPIC Risk Management  - with Maris Catania, Advisor on Responsible Gambling at Kindred Group, also joining to provide research expertise and long-standing knowledge of Kindred's Journey towards Zero project. 

"The Panel will not only ensure that Kindred stays on track with its Journey towards Zero by taking expert advice and guidance from members of the Panel, but it will also serve as a platform for discussions and recommendations on how to improve progress towards zero," explains the company.

Daniel Spencer, Director of Safer Gambling at EPIC Risk Management, commented: "EPIC have been working with Kindred for some years now and recently extended that partnership to provide expert insight and consultation to help their Journey towards Zero.” 

"The Journey towards Zero Panel is a groundbreaking and important piece of work. It is an honor to support it, and it will be an excellent opportunity for many with a wealth of experience from across the sector to ensure Kindred are best equipped to prevent gambling harm,” he stated.

In its first iteration, the Panel will host a number of focus groups and workshops with panelists to hear their views on how best to reach Kindred's ambition - as well as assess the PS-EDS system (Player Safety - Early Detection) to understand areas for improvement and further collaboration. Kindred will report on the progress of the Panel "in the coming months."