Kindred continues fight against problem gambling revenue in Q1 2024

Kindred continues fight against problem gambling revenue in Q1 2024

Kindred continues fight against problem gambling revenue in Q1 2024
Kindred Group was one of the first companies in the gambling industry to make a clean breast of how much problem gambling-derived revenue helps prop up the company’s bottom line. Setting out on the Sisyphean task of severing this relationship, the bolder of problem gambling revenue has been pushed down from the top for years now only for Kindred Group to pick it up and start rolling it uphill again. The company reported that its Q1 2024 results were impacted by problem gambling revenue once again, with the revenue derived that way actually accounting for 3.2% of the company’s gross winnings. This is a 0.1% increase from the results posted in Q4 2023, but still one of the company’s best performances since the initiative was launched. Although the revenue from problem gambling may have crept a little, Kindred Group reported that it has had a consistently good “improvement effect after interventions,” this is to say that the company has been able to intervene successfully and help consumers showing signs of problem gambling. In a statement, Director of Communications Alexander Westrell said that Kindred Group has shown unwavering commitment to the end goal which is completely eliminating problem gambling revenue. No other company has shown the same level of public accountability and admitted what is essentially a big mea culpa. “We continue to see our share of revenue from high-risk players fluctuate quarter to quarter, and we are working closely with all teams across the company to support customers towards a more sustainable gambling experience,” Westrell noted. Westrell did note, however, that the revenue derived from this problematic area has been steadily on a downward trajectory, but nevertheless pointed out that the company will have to continue its efforts in this direction if it wants to see it complete the “Journey towards Zero” initiative successfully. This process has been ongoing since February 2021 when the company shifted paradigms in the industry and even consumer expectations by openly making an effort to analyze its source of problem gambling and vowing publicly that it will maintain a transparent record of its attempts to overcome the issue. Image credit: Unsplash.com

23 APR 2024

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