Kindred cuts harmful gambling revenue share to 3.3% in third quarter
| By Robert Fletcher
Kindred Group reported a quarter-on-quarter decline in the amount of revenue it generated from harmful gambling, with this falling to 3.3% in the third quarter of its financial year.
The percentage for the period from 23 June to 20 September was the lowest since Kindred in February began publishing the share of revenue derived from harmful gambling as part of its ‘Journey towards zero’.
Kindred has set a target of reaching 0% of revenue from harmful gambling by the end of 2023.
The Q3 figure was down from 4.3% in the second quarter of 2021 and 3.9% in Q1, as well as 4.3% in the fourth quarter of Kindred’s 2020 financial year.
Kindred also noted that the percentage of players who saw an improvement after some sort of intervention from Kindred was 64.9%, which was lower than 76.9% in Q2, 76.6% in Q1 and 75.7% in Q4 of last year.
“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,” Kindred chief executive Henrik Tjärnström said.
“We have also taken a more cautious approach towards the younger demographic, since this group is at a higher risk financially and is more prone to addiction. Therefore, we have set up tailored approaches to de-risk customers that are between 18-24 and we can already see the benefits from this action.”