Kindred reports revenue drop from problem gambling
Kindred Group has set an ambition to reach zero per cent revenue from harmful gambling by 2023.
In February, Kindred Group started to communicate about its “Journey towards zero” by announcing the share of revenue derived from harmful gambling. The Group has set an ambition to reach zero per cent of revenue from harmful gambling by the end of 2023 and report this on a quarterly basis. For the first quarter of 2021, the share of revenue from harmful gambling decreased slightly to 3.9 per cent from 4.3 per cent in Q4 2020.
“Taking this step to report our revenue from harmful gambling has received positive reactions from many stakeholders and our hope is that other operators will follow. Gambling disorder is a global and industry wide challenge, which is why collaboration remains an important part of the solution. To ensure alignment across the industry we have invited researchers to help us improve PS-EDS and we are transparent on the methodology we use”, says Henrik Tjärnström, CEO at Kindred Group.
There is also a close cooperation established with treatment centers and Experts by Experience (reformed problem gamblers). Since taking the decision to openly communicate the revenue from harmful gambling, reactions have been predominantly positive. Kindred will continue to emphasise the importance of facilitating a fair, transparent and honest discussion not just with the gambling industry but with all stakeholders.
“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”, concludes Henrik Tjärnström.