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

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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 by seasonal 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

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Q2 2021

Q3 2021

Q4 2021

Q1 2022*

Share of gross winnings revenue from high-risk players

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4.3%

3.3%

4.0%

3.3%

Improvement effect after interventions

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76.9%

64.9%

79.2%

83.1%

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

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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 Tjärnström, 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 Tjärnström.

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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.

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CEO of Expanse Studios

Expanse Studios (GMGI) Enters the U.S. Sweepstakes Market

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North American Expansion Kicks Off Through Strategic Partnership with Moozi

Golden Matrix Group’s game development division, Expanse Studios, has officially entered the U.S. sweepstakes market, marking a significant milestone in its North American growth strategy. This move is powered by a strategic content partnership with Moozi, one of the most dynamic sweepstakes social casino platforms in the region.

With Moozi now featuring over 50 of Expanse Studios’ top-performing games—including immersive slots, crash games, and table games—this partnership positions GMGI to capture a share of the $5.6 billion U.S. sweepstakes market, projected to more than double to $11 billion by 2025 (Eilers).

Damjan Stamenkovic, CEO of Expanse Studios, commented:

“This partnership signifies our formal entry into the U.S. market, showcasing the innovation and player-first experiences that define Expanse Studios. Collaborating with Moozi enables us to deliver advanced gaming content to a growing audience in North America, a key region for our global growth.”

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James Anderson, Moozi’s CCO, added:

“Expanse Studios has set a high bar for engaging and innovative gaming experiences. Their addition to our platform elevates Moozi’s offerings and strengthens our mission to lead the U.S. sweepstakes social casino space.”

This launch underscores Expanse Studios’ commitment to innovation and its long-term growth trajectory in regulated markets. By entering the North American sweepstakes market, Expanse Studios takes a bold step in expanding its footprint while delivering cutting-edge gaming experiences.

 

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GamCare releases Annual Report following record breaking year of support on the National Gambling Helpline

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GamCare’s National Gambling Helpline received a record 55,228 calls and online chats from people experiencing gambling harm in 2023-24 – a 25% increase from the previous year – according to the charity’s Annual Report.

In a year marked by uncertainty over the future shape and structure of the gambling harms treatment sector following the previous government’s white paper on gambling reform, the charity continued to prioritise those at-risk of, or currently experiencing, gambling harm.

Of all calls and online chats that were responded to on GamCare’s Helpline in 2023/24, 41,070 (74%) were classed as supportive interventions. This includes supporting people with initial guidance and advice as well as delivering a seamless entry point into structured treatment services, with individuals completing treatment reporting a significant reduction in gambling-related distress and financial harm.

In March 2024, the Office for Health Improvement and Disparities published an assessment of the gambling treatment system, highlighting that 57% of individuals engaging in treatment were referred by the National Gambling Helpline. This underscores the Helpline’s critical role in connecting people to the support they need. Over 9,100 free treatment sessions were delivered in the year to April 2024, with an average of just 2.1 days’ wait from point of referral.

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GamCare’s targeted programmes aimed at young people, women, and the criminal justice system provided training on how to spot the signs of harms and where to signpost into support for 10,344 professionals, and education for 53,324 young people, children and parents. The Women’s Programme, in partnership with organisations such as Refuge, trained 3,813 professionals to recognise and address gambling-related harm among women.

Margot Daly, Executive Chair of GamCare’s Board, says: “Throughout a challenging year and with heightened demand for our services, GamCare’s staff have got on with the job of preventing harm where possible and treating harm where necessary. While we expect important changes in the gambling harms landscape, we have been determined not to let this uncertainty affect our relentless focus on the people who really matter – those at-risk of or currently experiencing gambling harms.

“I would like to thank and pay tribute to our frontline staff who provide 24/7 support for all those at risk or in distress. I also want to thank GamCare’s senior executive team who have steered GamCare through a period of sustained change, and to my fellow trustees for their guidance, unwavering support and the time each has dedicated to ensuring that the charity stays on course and on mission.

“As we look ahead to how the future of the gambling harms sector is shaped, we are committed to working proactively with the NHS and other partners and commissioners to ensure that people are continually able to receive the right support at the right time.”

The post GamCare releases Annual Report following record breaking year of support on the National Gambling Helpline appeared first on European Gaming Industry News.

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Kambi Group plc repurchase of shares during 18 December – 23 December 2024

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Kambi Group plc (“Kambi”) has during the period 18 December to 23 December 2024 (the “Buyback Period”) repurchased a total of 40,000 ordinary B shares (ISIN: MT0000780107) as part of the share buyback programme, within the mandate approved at the Extraordinary General Meeting on 20 June 2024 (the “Programme”).

The objective of the Programme is to achieve added value for Kambi´s shareholders and to give the Board increased flexibility with Kambi´s capital structure by reducing the capital. The Programme is being carried out in accordance with the Maltese Companies Act, EU Market Abuse Regulation No 596/2014 (“MAR”) and other applicable rules.

During the Buyback Period, Kambi repurchased a total of 40,000 ordinary B shares at a volume-weighted average price of 99.13 SEK. From the beginning of the Programme, which started on 6 November, until and including 23 December 2024, Kambi has repurchased a total of 344,000 ordinary B shares at a volume-weighted average price of 104.94 SEK per share.

During the Buyback Period, Kambi has repurchased shares as follows:

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Date Aggregated daily
volume (number of
ordinary B shares)
Weighted average
share price
per day (SEK)
Total daily
transaction
value (SEK)
18 December 2024 10,000 100.00 999,967
19 December 2024 10,000 99.39 993,929
20 December 2024 10,000 98.86 988,588
23 December 2024 10,000 98.26 982,562

All acquisitions have been carried out on Nasdaq First North Growth Market in Stockholm by Carnegie Investment Bank AB on behalf of Kambi. Following the acquisitions and as of 23 December 2024, Kambi’s holding of its own shares amounted to 344,000 and the total number of issued shares in Kambi is 29,903,619 ordinary B shares. Under the Programme Kambi is authorised to repurchase a maximum of 3,127,830 ordinary B shares, up to a maximum amount of €12.0 million.

A full breakdown of all transactions carried out during the Buyback Period is attached to this announcement.

Information on the Programme is available on Kambi’s website, https://www.kambi.com/investors/share-information/

The post Kambi Group plc repurchase of shares during 18 December – 23 December 2024 appeared first on European Gaming Industry News.

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