Kindred Group reports 4.3% of second quarter revenues stem from harmful gambling

The Kindred Group plc revealed this week that during the second quarter of this year, its revenue share from harmful gambling increased a small amount. In the first quarter, the percentage came in at 3.9 and this time around, it is up to 4.3.

Earlier this year, the company announced that it was working towards a zero percentage in this category. The goal is to eventually see zero revenues from harmful gambling. Kindred is hopeful that this goal will be met by the end of 2023.

Quarterly Reporting

To stay accountable, Kindred is reporting its harmful gambling revenue percentage each quarter. The company wishes to be transparent and provide accurate data from its operations. Kindred wants to create a more sustainable gambling market and believes that awareness needs to be raised as to what should be done to help prevent high-risk gambling among consumers.

In the fourth quarter of 2020, the company reported a 4.3% revenue total from high-risk players. The improvement effect after interventions came in at 75.7%. In the first quarter of this year, the revenue share was 3.9%, a nice decrease, while the interventions percentage increased to 76.6%. For the most recent quarter, the revenue share was up again but the improvement effect after interventions continued to rise, this time, coming in at 76.9%.

Henrik Tjärnström, the CEO of Kindred Group, commented that in the past quarter, the company has seen a positive as well as constructive dialogue within the industry when it comes to creating a more sustainable gambling market. Tjärnström state further:

“Despite our revenue increasing slightly this quarter, which is an expected fluctuation, we remain dedicated and focused on our journey towards zero.”

Kindred will continue to report the harmful gambling revenue percentage each quarter. The information will be published on the website of the company for public viewing.

Acquiring Relax Gaming Limited

Along with working on responsible gambling initiatives, the Kindred Group is also busy growing its operations. In early July, the company announced it is set to acquire Relax Gaming Limited, a casino games developer based in Malta.

Kindred has been a major investor in the company since 2013 and has a little over 33% share of the brand. The new arrangement will see Kindred paying a cash consideration of €80 million ($94.6 million) to purchase the remaining stake of the company.

It is expected that the impending takeover will close in the fourth quarter of this year. This will be subject to customary regulatory approvals.