Kindred’s Social Responsibility Initiatives Lead to Decreased Gambling Harm Revenue in Q4

Revenue from harmful gambling in Q4 accounted for 3.1% of total revenue, which is a decrease compared to Q3 and Q1. This percentage is consistent with the revenue in Q2. Kindred, the operator, includes brands like Unibet and 32Red in its online gambling offerings. The intervention efforts by Kindred have resulted in an improvement in player behavior. During Q4, 87.4% of customers displayed better behavior after receiving intervention, which is the highest quarterly total of 2023. This positive trend reflects the dedication and collective efforts of the group and demonstrates Kindred’s commitment to promoting positive change within the industry. Kindred states that addressing the decline in revenue from harmful gambling requires a long-term approach and points out the steady decrease in harmful gambling seen since 2020. The company aims to reduce revenue from harmful gambling to 0% through its ‘Journey to Zero’ initiative. While they have not achieved this goal yet, they remain committed to reaching it. Kindred recently received an acquisition offer from French lottery and gaming giant, La Française des Jeux (FDJ), which values Kindred at SEK27.96bn (£2.11bn/€2.47bn/$2.66bn) and aims to create a leading European gaming operator. Kindred also released preliminary financial results for 2023, which show expected growth in revenue and underlying EBITDA. Revenue is projected to be £1.21bn, a 13.3% increase from 2022, and underlying EBITDA is set to reach £204.5m, up 58.3%.