In the second quarter of 2023, Kindred Group reported a significant milestone in its commitment to responsible gambling, with harmful gambling revenue accounting for just 3.1% of its total revenue. While this represents the lowest percentage of harmful gambling revenue for the company, there’s more to the story. Kindred Group has a long-term goal of eliminating harmful gambling revenue entirely, but achieving this objective has proven to be a challenging endeavor.
The Journey Towards Responsible Gambling:
Kindred Group’s commitment to responsible gambling is encapsulated in its “Journey towards Zero” ambition, which aims to completely eliminate the share of revenue derived from harmful gambling practices. This objective is not merely a corporate target but also a reflection of the company’s dedication to fostering a sustainable gambling industry and improving internal responsible gambling efforts.
Correcting the Record:
In a recent revelation, Kindred Group acknowledged a miscalculation in its reported figures for Q4 2022 and Q1 2023. This discrepancy was attributed to a data handling error related to self-excluded customers, which has since been rectified. The corrected figures reveal that revenue from harmful gambling was initially reported as 3.3% for Q4 2022 and 3% for Q1 2023. These numbers, if accurate, would have represented significant progress in reducing harmful gambling revenue. However, with the correction, the current reported figure of 3.1% in Q2 2023 becomes even more noteworthy.
Fluctuations Over Time:
A visual representation of Kindred Group’s harmful gambling revenue between Q2 2021 and Q2 2023 illustrates a mild fluctuation in the percentages. This suggests that while the company has made strides in reducing harmful gambling revenue, there have been some variations in performance over time.
The Highest Percentage of Improvement Effect:
One of the standout achievements in Kindred Group’s Q2 2023 results is the highest percentage of improvement effect after interventions, reaching an impressive 86.4%. This statistic underscores the company’s commitment to implementing measures that mitigate the adverse effects of harmful gambling practices.
Future Prospects:
The question that arises is whether Kindred Group will continue to hover around the 3% mark regarding its harmful gambling revenue or if it is poised for further improvement. While it’s challenging to predict the future with certainty, the company’s commitment to its “Journey towards Zero” ambition suggests that it will relentlessly pursue a reduction in harmful gambling revenue. However, the path forward may not always be linear, and external factors could influence the company’s progress.
Nils Andén’s Perspective:
Nils Andén, the Interim CEO of Kindred Group, emphasized the significance of the “Journey towards Zero” ambition as a vital parameter for the company. It not only contributes to a fact-based dialogue on responsible gambling within the industry but also serves as a foundational metric for Kindred Group’s internal efforts to enhance responsible gambling practices.
Kindred Group’s pursuit of responsible gambling is a journey marked by both accomplishments and challenges. The correction of reported figures highlights the importance of data accuracy in measuring progress. While the company’s recent achievement of 3.1% harmful gambling revenue is commendable, the road ahead remains uncertain. However, with its unwavering commitment to the “Journey towards Zero” ambition, Kindred Group continues to play a pivotal role in shaping a more sustainable and responsible gambling industry.