The Kindred Group plc revealed this week that during the second quarter of this year, its share of revenue from harmful gambling increased slightly. In the first quarter, the percentage was 3.9 and this time it is 4.3.
Earlier this year, the company announced it was aiming for a zero percentage in this category. The goal is to eventually see zero harmful gambling revenues. Kindred hopes that goal will be met by the end of 2023.
To stay accountable, Kindred reports its percentage of harmful gaming revenue each quarter. The company wants to be transparent and provide accurate data on its operations. Kindred wants to create a more sustainable gambling market and believes in educating consumers about what needs to be done to help prevent high risk gambling among consumers.
In the fourth quarter of 2020, the company reported 4.3% total revenue from high-risk gamers. The improvement effect after the interventions was 75.7%. In the first quarter of this year, the revenue share was 3.9%, a nice drop, while the percentage of interventions increased to 76.6%. For the most recent quarter, the revenue share increased again, but the improvement effect after interventions continued to increase, this time to 76.9%.
Henrik Tjärnström, CEO of Kindred Group, said that over the past quarter the company has seen positive and constructive dialogue within the industry when it comes to creating a more sustainable gaming market. Tjärnström further specifies:
“Despite our slightly higher revenue this quarter, which is an expected fluctuation, we remain dedicated and focused on our road to zero.”
Kindred will continue to report the harmful gaming income percentage each quarter. The information will be posted on the company’s website for public comment.
Acquisition of Relax Gaming Limited
In addition to working on responsible gaming initiatives, the Kinship group is also busy developing its business. In early July, the company announced its intention to acquire Relax Gaming Limited, a Malta-based casino game developer.
Kindred has been a major investor in the company since 2013 and owns just over 33% of the brand’s shares. The new deal will see Kindred pay a cash consideration of 80 million euros ($ 94.6 million) to buy the remaining stake in the company.
The impending takeover is expected fourth quarter closing of this year. This will be subject to the usual regulatory approvals.