Kindred edges closer to net zero harmful revenue goal

Kindred Group chipped away at the proportion of its revenues derived from harmful gambling during Q2 2023, cutting the figure down from 3.3% to 3.1%.

The Stockholm-listed operator, active in various markets via its Unibet sportsbook and 32Red igaming brands, set an objective of achieving 0% revenue from harmful gambling in H1 2021.

As it stands, the 3.1% figure reported this week marks the lowest proportion of income from harmful gambling achieved by the group. This was accompanied by a record- high improvement effect after interventions, which stood at 86.4%.

Nils Andén, Kindred Group Interim CEO, said: “Our ‘Journey towards Zero’ ambition is an important parameter for Kindred and our ability to contribute towards a fact-based dialogue on how to establish a more sustainable gambling industry. 

“It also acts as a fundamental metric in Kindred’s internal efforts to improve our responsible gambling efforts. We have always been clear on that we will not achieve this ambition overnight. 

“Collaboration across industry stakeholders remains a critical success factor, such as our collaboration with the Swedish treatment centre Spelfriheten where we address harmful gambling by combining our complementary expertise towards a common goal.”

Kindred’s ‘Journey to Zero’ has seen the harmful gambling revenue proportion fluctuate over the past two years, reaching a high of 3.8% during Q3 2022 but stabilising and falling back down to 3.3% in Q4 2022 and Q1 2023.

Central to the group’s ambitions have been its partnerships with external parties, including corporations centred specifically around safer gambling – such as a deal signed with consultancy EPIC Risk Management in October last year – as well as commercial agreements.

Last month, the group’s UK Marketing Manager, Jamie Moniz, described the use of sports marketing as a ‘vital part of bringing our Journey towards Zero and other sustainability ambitions to life’ whilst discussing Unibet’s partnership with Rangers FC.

2023 is proving a transformational year for Kindred, which has so far seen Andén assume interim CEO responsibilities after long-term Chief Executive after Henrik Tjärnström resigned in May. Meanwhile, the potential for a merger or sale of the group remains on the table.