Kindred determined to eradicate harmful gambling revenue with EPIC
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Zero. This is the exact number of revenue Kindred Group intends to generate from harmful gambling in the foreseeable future. The company has been a champion of responsible gambling but has acknowledged that there must be more work done in order to completely eliminate this revenue channel. Over the last reporting quarter in the third quarter of 2022, the company reported 3.8% of gambling revenue driven by harmful gambling.
This, the company said, was reported in the context of interventions decreasing to 82.6% over the period. For the past three quarters Kindred Group has mostly seen harmful gambling revenue fluctuate between 3.3% and 3.8%. Now, the Group is more determined than ever to ensure that it takes all necessary steps to eliminate this revenue stream. To this end, the company is signing a fresh partnership with EPIC Risk Management. This partnership is a continuation of the collaboration Kindred Group and Epic Risk had during the third quarter.
Kindred has acknowledged that reaching the end-goal will be challenging. The company has vowed to eliminate problem gambling revenue streams from its bottom line by the fourth quarter of 2023. This ambitious timeline is now put to a test, as high-risk customers have not diminished, the Group reported. Nevertheless, the Kindred Group hasmade sure that its reporting is on point and that it has been able to adequately track the underlying problem.
The Group has already made several discoveries in how to approach the issue. For one, making sure that detection and intervention are delivered in a timely manner is an efficient mechanism. Effectively, the Group is flagging a problem that allows consumers to rally and often stop on their own.
Kindred Group is determined to continue investing in more research to better understand gambling behavior as well. Then, there is the third discovery the company has made, which involves the use of gambling tools that can help and empower consumers to be in full control of their gambling behavior.
Not least, Kindred Group is advocating for better overall transparency and knowledge exchange between individual companies in the industry. Kindred Group CEO HenrikTjärnström acknowledged both the progress done but insisted that there needs more to be done if the company is to reach its zero target.
"We have not seen a desired sequential development this quarter, however we have taken significant steps forward since launching our ambition in 2021," he said. Kindred Group will now use these lessons, many of which were derived with the help of EPIC Risk Management and will be extending this collaboration over the next three years.
EPIC Risk Director of Safer Gambling Dan Spencer also welcomed the partnership extension and commended Kindred Group’s efforts in ensuring that the gambling company remains focused on its ambitious and important commitment to protecting customers.
