Kindred Edges Closer to Zero Harmful Gambling Revenue
The Kindred Group (STO: KIND-SDB) has announced a quarter-on-quarter fall in the proportion of its revenue generated from harmful gambling for the first quarter of 2021. The operator, behind brands such as Unibet, has repeatedly announced that it plans to achieve 0% of its revenue from harmful gambling by 2023.
In the 90-day period from 21 December to 21 March, the share of gross winnings revenue from players identified as high-risk was just 3.9% of total revenue in the quarter, down from 4.3% in Q4 of 2020.
The Group also noted that 76.6% of its players that showed signs of problem gambling improved their habits after intervention during the reporting period, up from 75.5% in Q4 of 2020.
In February, Kindred Group announced its ‘Journey Towards Zero’ strategy, which set out the company’s aim for a 0% revenue share from harmful gambling within two years. To help achieve this, Kindred is working with a number of treatment centers and the Experts by Experience reformed problem gamblers group.
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Kindred’s chief executive Henrik Tjärnström welcomed the news:
It’s encouraging to see a decrease in the share of revenue from harmful gambling for the first quarter of the year, however we need to be aware that the journey forward will not be a steady decrease. We expect to see the data increase in individual quarters, but we continue to work towards our ambition. Reducing harmful gambling in society is a long-term process which requires a fact-based, open, and constructive dialogue among all stakeholders.
Furthermore, in February Kindred announced that its full-year revenue exceeded the £1 billion mark for the first time in 2020, thanks to a growth in active customers and expansion in new markets.
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