Kindred Harmful Gambling Revenue Drops to 3.3%
The Kindred Group (STO: KIND-SDB) has published its latest update on its mission to reach zero percent of revenue from harmful gambling by the end of 2023. In the third quarter of 2021, the share of the revenue from harmful gambling decreased to 3.3%, a drop of 1% from the previous quarter.
The company publishes updates each quarter in order to be as transparent as possible, contribute to a useful dialogue about problem gambling, and raise awareness about the Group’s sustainability work.
We are pleased to see that the percentage of revenue coming from harmful gambling has decreased. Whilst we welcome this decrease, we do understand that we still have to work hard to further decrease this number. In line with our roadmap, our operational teams have worked to implement more proactive customer interactions, and this has resulted in an increase in the use of control tools to help customers stay in control.
Tjärnström went on to say that the company is taking a more cautious approach with the younger demographic as it is a group that is “at a higher risk financially and is more prone to addiction.” He explained that the company has created tailored approaches for customers aged 18 to 24 and that they can already see the benefits of doing so.
Earlier this month, Kindred’s Head of Responsible Gambling and Research, Maris Catania, together with her Ph.D. tutor, Professor Mark Griffiths, published a peer-reviewed research paper that discussed the application of the DSM-5 criteria for gambling disorder to actual online gambling behavior. It is this approach that forms the basis of the ideology behind Kindred’s behavioral monitoring system. Kindred has said that it will continue to publish more research to increase the transparency of information through empirical studies.
As Professor Mark D Griffiths from Nottingham Trent University explained, “To limit harmful gambling, the behavior has to be identified in the first place. Our research provides Kindred with actual examples of the types of behavior engaged in by problem gamblers, which could be used by the player protection team to identify potential markers of harm.”