Kindred reports Q2 2023 harmful gambling revenue after correction: still around 3%

Updated:2024-03-21 13:16    Views:911

In the second quarter of 2023, Kindred Group has reported that its share of revenue from harmful gambling was 3.1%. This is the lowest the company’s harmful gambling revenue has been, although there is an asterisk to that.

Kindred’s long-term aim is to generate zero percent of its revenue from harmful gambling, but this has proven to be a difficult target.

However, the company’s most recent report shows the lowest figure ever.

On the other hand, Kindred also announced a correction in its recent report: “Due to a miscalculation, Kindred reported inaccurate numbers for the share of revenue from harmful gambling for Q4 2022 and Q1 2023. The miscalculation was due to a data handling error in connection to an update of the data reporting on self-excluded customers and has since been resolved.”

Revenue from harmful gambling was reported as 3.3% for Q4 2022,Online Casino Games dropping to 3% in Q1 2023 – which would have been the lowest Kindred had reduced its harmful gambling revenue down to.

But, as this was falsely reported, its new statistic (if reported correctly) is now its lowest percentage with regard to revenue made from harmful gambling.

The graph shows the mild fluctuation of Kindred's revenue from harmful gambling between Q2 2021- Q2 2023

Its Q2 2023 results also reflected the company’s highest percentage of improvement effect after interventions at 86.4%.

In its future reports, will the company stay in its 3% limbo or is it only onwards and upwards (or downwards) from here?

Nils Andén, Interim CEO of Kindred Group, 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."

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