Swedish online gambling operator Kindred Group has joined with gaming data analytics firm BetBuddy and City, University Of London to explore how artificial intelligence can help to strengthen its anti-money laundering decision-making processes.
Previously known as Unibet Group, Kindred Group revealed that the research project will see it support and fund a doctoral degree at the London university designed to investigate how deep learning and artificial intelligence techniques can be improved in order to better its anti-money laundering decision-making processes.
“This project is yet another step in Kindred Group’s journey to find innovative ways of improving our business,” read a statement from George Debrincat, Money Laundering Reporting Officer for Stockholm-listed Kindred Group, which operates ten online casino and sportsbetting brands including MariaCasino.co.uk, BohemiaCasino.com and PokeriHuone.com. “The project ties into the research already started within our Kindred Futures arm, looking at how artificial intelligence can support detection of possible suspicious behaviors. As a group we will be able to continue improving on our already strong compliance track record with the use of artificial intelligence and big data while further ensuring a safe and secure gambling environment for our customers.”
Licensed by officials in the United Kingdom, Malta, France, Belgium, Gibraltar, Denmark, Italy, Australia, Ireland, Estonia, Romania and the German state of Schleswig-Holstein, Kindred Group recently reported an all-time high of $196.45 million in first-quarter gross gaming revenues, which represented a 25.1% increase year-on-year, while its underlying earnings before interest, tax, depreciation and amortization for the three-month period swelled by some 17.4% to $38.85 million.
“We are fortunate to have been collaborating with BetBuddy since 2014 and now look forward to working with Kindred Group too on this research project,” read a statement from Artur Garcez, a professor for City, University Of London’s Research Centre For Machine Learning. “It is great to see our models and theory put to the test in a fulfilling collaboration that also drives new research that can improve peoples’ lives.”
Established almost 20 years ago, Kindred Group re-branded in December to better reflect its multi-brand strategy and recently announced its intention to spend $220.3 million in order to purchase rival operator 32Red before the end of June.
“We are excited about partnering with Kindred Group, who is widely respected as an innovator in all aspects of iGaming player protection,” read a statement from Simo Dragicevic, Chief Executive Officer for London-based BetBuddy. “We are also pleased to be continuing our long-standing collaboration with professor Garcez and his research team, who are respected globally as leaders in the fields of machine learning and extracting meaning and knowledge from artificial intelligence.”