Kindred Group Provides Sustainable Update
The Kindred Group has revealed their progress towards sustainable goals. The Unibet and Bingo.com owner has committed to reducing high-risk revenue to zero. The Stockholm-listed operator reports that a quarter of its revenue comes from low-risk players.
Kindred Group Releases Sustainable Update © Pixabay.
The Kindred Group has reported an uptick of 7.37% in gross winnings revenue derived from low-risk players, showing progress to the company’s aim of a more sustainable business model.
The company published its Annual and Sustainability Report for 2021, which gives a fascinating insight into its desire to reduce its dependence on high-risk customers. Kindred revealed that in Q4 2021, there was a 24.7% increase in the revenue share that came from customers identified as low-risk from gambling-related harm, a number that has increased from 17.3% in 2020.
The Kindred Group have publicly stated that they are determined to bring the percentage of revenue share derived from high-risk players to zero by 2023.
The latest numbers show that while the low-risk income is increasing at pace, the reduction in company revenue from high-risk is taking place at a slower rate. In Q4 2021, 4% of revenue came from these accounts, which is .3% lower than the 4.3% reported in 2020—showing that they need to accelerate efforts to meet their self-imposed target.
Kindred CEO Henrik Tjärnström said: “Our dedicated focus on being a leader in sustainability led us to an important decision in February 2021 when we became the first gambling operator to publicly report on our share of revenue from high-risk customers, with a clear ambition to reach zero revenue from gambling harm by 2023.
“I firmly believe that gambling can make a major positive contribution to our society and should only ever be a source of entertainment for our customers,” he added.
As part of the company’s drive to protect those most at risk, Kindred customer support staff have targeted younger customers (18-24-year-olds) and have taken a “tailored approach” that they claim has already provided benefits.
Kindred has committed to additional measures to achieve the dependency goal. One such tactic is to extend its player detection system variables so that warnings over risky consumer behaviour are flagged to the operator as close to real-time as possible, enabling customer support teams to intervene.
The company have already added 24 new data points to evaluate customer play patterns from “web analytics, risk calculations and new data points to improve the outcome of detection accuracy”.
Kindred has also refined the communication it sends out to customers, has improved the assistance packages, and can align its correspondence in line with customer risk levels.
Along with wanting a more sustainable relationship with customers, the company is also increasing its environmental-friendly efforts as staff return to offices after the coronavirus pandemic. Kindred has said they will focus on cutting carbon emissions from offices and data centres. The firm will also attempt to reduce business travel and commutes, indicating a more hybrid working model.
The Kindred CEO said of his vision for the company: “Looking ahead, I see an exciting future for Kindred. Over ten years ago, we embarked on a strategy to transform ourselves and, over time, only operate in locally licensed markets. In the final quarter of 2021, we derived 77% of our gross winnings revenue from locally licensed markets and have proved we can be scalable in these markets with solid bottom-line growth.
“We have pushed through a difficult time and are ready to take on newly licensed markets such as the Netherlands in Europe, as well as further expansion in North America,” he concluded.
