SBC News Voice of the Sports Betting Industry
Kindred Group Plc cites that improved customer interventions have led to a ‘slight decrease’ in revenue share generated from harmful gambling, recorded during the close of 2023.
The Stockholm-listed gambling group continues to report on responsible gambling metrics and customer interventions on a quarterly basis as part of its ‘Journey towards Zero’- a social responsibility initiative launched in February 2021.
Updating stakeholders, during Q4 Kindred saw its share of gross winnings accumulated from high-risk accounts stand at 3.1% – a decline on 3.3% reported during Q3.
The figure sees Kindred detail stable tracking of safer gambling metrics, which stood at 3.1% during year trading.
Of significance to Kindred’s safer gambling objectives, the percentage of detected customers who exhibited improved behaviour after interventions increased to 87.4% – the highest index recorded in 2023 (Q1: 83%, Q2: 86% Q3: 86%).
Kindred noted that the sustained positive trajectory in the improvement effect after interventions “serves as a testament to the unwavering dedication and collective efforts of the entire company”, reflecting its “ongoing commitment to fostering positive change within the industry”.
Alexander Westrell, Director of Communications at Kindred Group, commented: “Addressing the decline in revenue from harmful gambling requires a long-term view. It’s important to note that our Journey towards Zero data has shown a steady decrease since 2020.
“Since the third quarter of 2021, the healthier gambling behaviour effect after interventions has improved from 64.9 per cent to 87.4 per cent. This progress shows in our transparent reporting and consistent work. It highlights our company-wide commitment, and has become a core part of Kindred’s DNA.”
The shareholders of Kindred are currently reviewing the terms of the €2.6bn all-cash acquisition offer put forward by Groupe Française des Jeux (Groupe FDJ).
The offer recommended by the board of Kindred to investors pledges that the group will generate all revenues from ‘100% regulated markets’ as FDJ and Kindred combination seeks to create Europe’s ‘second largest gambling firm’.
As it stands, FDJ seeks to secure binding terms on the bid by 19 February. Kindred will publish its fourth quarter and full-year 2023 results on Wednesday 7 February.
