We want to ensure we achieve excellence in regulatory compliance and customer service. Our near-term ambition is to eliminate repetitive incidents to ensure no unmitigated material compliance incidents by the end of 2025. This aligns with our purpose, and notably our desire to present gambling as a justified form of entertainment provided by trusted, well-run and reputable operators.
Target
Eliminate repetitive incidents to ensure no unmitigated material compliance incidents by 2025.
A secure operating licence and subsequent competitive advantage come from meeting the highest professional, regulatory and ethical standards. In the digital service economy, compliance is a fast-moving discipline, and our processes are designed to match its evolution, through the use of technology and innovation in all compliance activities. At Kindred all compliance work is administrated through our Kindred Compliance Framework (KCF). It is built on internationally recognised standards and encourages the combined application of both organisational and individual responsibilities.
Compliance framework and incident control
Our performance in compliance is strong, and we continue to establish the Kindred Compliance Framework across the Group to uphold complete internal transparency and engagement for incidents and their resolution.
We are aligned with international standards including ISO 37301:2021 and Kindred are licensed in 20 regulated jurisdictions in Europe, Australia and North America. In 2023, 82 per cent of our Gross winnings revenue was derived from locally regulated markets The quality of our compliance systems across all jurisdictions is subject to internal control audits and is independently appraised. We completed over 26 regulatory audits and reviews during 2023, many of which are a condition of a gambling licence.
To maintain a high level in compliance we continuously train all employees on relevant compliance best practices. For example, all are familiar with the Kindred Compliance Incident Process (CIP) to prevent incidents and help to analyse root causes and risks with the GRC-C.
Responsible procurement
Our responsible business performance is supported by our approach to procurement. While we are exposed to low levels of supply-chain sustainability risk, we purchase a broad range of services and products. We aim to influence the development of social and environmental standards of our business partners, suppliers and stakeholders. We apply our Supplier Code of Conduct to convey what we expect from our suppliers regarding labour and human rights, health and safety, business ethics and the environment.
Anti-corruption and corporate integrity
To make sure we run a compliant business, we ensure all employees participate in regular training and policy updates on anti-corruption and anti-bribery. During 2023, we recorded no reported breaches of our policies. Through our Whistleblowing Policy we encourage employees to use Speak Up!, our independently-run whistleblowing service. All concerns raised are reported quarterly to the Audit Committee, with one reported in 2023 (2022: four). Ongoing and closed cases are presented to the Board every quarter.
Policies that govern our compliance work are available here.
