In the latest financial report released by Kindred Group, a leading online gambling operator based in Malta, it has been revealed that their harmful gambling revenue has edged up in the first quarter of the year. This news comes amidst growing concerns about the potential harmful effects of gambling on individuals and society as a whole.
According to the report, Kindred’s harmful gambling revenue increased by 3% compared to the same period last year, reaching a total of €12.5 million. This rise in harmful gambling revenue is concerning as it indicates that more individuals are at risk of developing gambling-related problems.
The report also highlights that overall revenue for Kindred increased by 9% in the first quarter, reaching a total of €352 million. This growth in revenue is largely attributed to the increasing popularity of online gambling, particularly during the COVID-19 pandemic when many brick-and-mortar casinos and betting shops were forced to close their doors.
In response to the increase in harmful gambling revenue, Kindred Group has stated that they take responsible gambling very seriously and have implemented a number of initiatives to help identify and support individuals who may be at risk of developing gambling-related problems. Some of these initiatives include self-exclusion programs, responsible gambling tools, and partnerships with organizations that provide support for those struggling with gambling addiction.
Despite these efforts, the increase in harmful gambling revenue is a reminder that more needs to be done to address the potential negative impacts of gambling. This includes ongoing education and awareness campaigns, as well as increased support and resources for individuals who may be affected by gambling-related issues.
As the debate around the regulation of online gambling continues to intensify, it is clear that the industry must take proactive steps to ensure that the potential harms associated with gambling are minimized. Kindred Group’s latest financial report serves as a reminder that responsible gambling practices are crucial in protecting individuals and promoting a safe and sustainable gambling environment.
