Kindred’s revenue from harmful gambling decreased to 3.3 per cent in the first quarter of 2022 – PR Newswire

VALLETTA, Malta, April 26, 2022 /PRNewswire/ --In the first quarter of 2022, Kindred's share of revenue from harmful gambling decreased to 3.3 per cent. Increased focus on improving and optimising intervention measures has contributed to the decrease.Kindred also entered a collaboration with RecoverMe, an app supporting users regain control of their gambling habits.

In the first quarter of 2022, Kindred Group plc's (Kindred) share of revenue from harmful gambling decreased to 3.3 (3.9) per cent. The positive trend has been impacted byseasonal changes, with the first quarter historically seeing lower shares of revenue from harmful gambling year on year, as well as an optimised process for manual interventions towards high-risk customers. This has resulted in fewer customers being re-detected following interventions, leading to a more sustainable gambling behaviour which is one of the ambitions outlined in the Group's roadmap. Kindred also continues their more cautious approach to the younger demographic (age group 18 to 25), since this group is at higher risk to harmful gambling and more prone to addiction. The increased focus has resulted in a larger decrease in the percentage of harmful revenue from this demographic group.

Global statistics from Kindred Group

Q2 2021

Q3 2021

Q4 2021

Q1 2022*

Share of gross winnings revenue from high-risk players

4.3%

3.3%

4.0%

3.3%

Improvement effect after interventions

76.9%

64.9%

79.2%

83.1%

*90 day rolling period between 20 December and 19 March 2022

During the quarter, Kindred has updated the improvement effect metric after interventions. Instead of only focusing on financial indicators, the metric now includes behavioural indicators, which is more aligned with Kindred's detection system, PS-EDS.

"We started 2022 with a focus on targeted deliveries. Our team has specifically focused on optimising our manual interventions further, resulting in a higher percentage of customers showing healthier gambling behaviour after they have been detected and contacted by our responsible gambling team," says Henrik Tjrnstrm, CEO of Kindred Group.

Kindred has also entered a collaboration with the team behind the RecoverMe app, which uses research-proven techniques to help users regain control of their gambling habits. Thanks to the collaboration, Kindred can offer the app to its customers for free, initially in the UK and the US.

"Only eight per cent of individuals with problem gambling seek help due to the stigma associated with the addiction, inaccessibility and lack of awareness of treatment options. RecoverMe's partnership with Kindred is a vital lifeline in helping us provide care to those that need it most. We believe passionately that collaboration with organisations like Kindred will help us reach those that need support and historically have been individuals who are difficult to reach and access therapy," says Tejus Patel, Junior Doctor at King's College Hospital NHS Foundation Trust and co-founder of RecoverMe.

"I am very proud that we have entered the collaboration with the team behind the RecoverMe app, ensuring we can offer this service for free to all our customers in the UK and the US. We are also sponsoring additional PhD programmes on addiction studies, enabling these students to study and work full-time in academia. Our focus right now is to continue to increase efficiency and speed in engaging with detected customers as early intervention is critical in preventing a harmful behaviour," concludes Tjrnstrm.

About our journey towards zero

Kindred Group is committed to transform gambling by being a trusted source of entertainment that contributes positively to society. Therefore, Kindred has set an ambition to reach zero per cent revenue from harmful gambling by 2023 and to report this metric on a quarterly basis. This is done to increase transparency, to support a fact-based dialogue about harmful gambling, and to raise awareness of the Group's sustainability work. To read more, visit: http://www.kindredgroup.com/zero.

CONTACT:

For more information:Maria Angell Dupont, External Communications Manager, Kindred Group[emailprotected]+46 72 165 15 17

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Kindred's revenue from harmful gambling decreased to 3.3 per cent in the first quarter of 2022 - PR Newswire