International gambling operator Kindred Group has informed its stakeholders that the “share of gross-win revenue derived from high-risk players” has decreased further. In the latest trading period, the percentage dropped from 4.3% to 3.9%.
This follows the path of commitment set by the operator at the start of 2021 to secure 0% of revenue from harmful gambling by the end of 2023.
“It’s encouraging to see a decrease in the share of the 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,” Kindred CEO Henrik Tjärnström stated in a recent news article on SBC News.
The operator has implemented several metrics to ensure a safer gambling experience on all its platforms. Among other measures, the Kindred Group has implemented a “Sustainability Council” to showcase the company’s social responsibility mandate. They have also become the first gambling company to include the percentage of gross-win revenues derived from harmful gambling in their sustainability reports.
The company openly accepts to lose the revenue from customers who may have a gambling addiction in order to lead the way towards a responsible gambling environment. Kindred’s ambitions come in a transparent way and require regular audits across the entire group.
Its headline directive for even safer gambling has been announced by the operator at the start of the year. The first quarterly update certainly reaffirms that some progress has already been made. Not only has the gross revenue from high-risk players dropped by 0.4%, the improvement effect after interventions by the dedicated customer care teams has also increased by 1% to 76.6%.
“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 that requires a fact-based, open, and constructive dialogue among all stakeholders,” Tjärnström added.
The Kindred Group has also stated that they have established close cooperation with treatment centers and Experts by Experience (EBE). Established back in 2013, the social enterprise is led by people with lived experience of mental ill-health. They provide guidance, engagement, and training work for those with a potential gambling addiction.
All these measures represent the most thorough and transparent approach for safer gambling by one of the major international gambling operators. The publicly listed company was the first to disclose transparent key performance indicators (KPI) to track the percentage of gross-win revenues obtained from harmful gambling in collaboration with Zafty Intelligence.
The 2020 Sustainability Report outlines a gross winnings revenue of £1.13 billion, of which 60% is gained from locally licensed markets. Kindred holds 14 local gambling licenses around the world in the US, Australia, and Europe. During the ongoing COVID-19 pandemic, the operator has recorded a growth of 24% year-over-year.
In alignment with the UN sustainable development goals, the company’s vision has received a new broad purpose to “transform gambling by being a trusted source of entertainment that contributes positively to society”. They have set an ambitious goal to derive zero gross winnings revenue from harmful gambling by 2023.
During the same time frame, the company wants to achieve a 50/50 gender split in the senior management team and procure 100% of their electricity from renewable sources of energy. En route to achieving that, they will publish quarterly update reports to all stakeholders.
They are also hosting an annual sustainable gambling conference as well and support local charities.