Ainsworth comments on historical investigations into CEO Harald Neumann
Summary
Ainsworth Game Technology has responded to media reports regarding ongoing investigations into CEO Harald Neumann by the Austrian Economic and Corruption Prosecutor’s Office (WKStA). These investigations, which began in 2019, involve over 100 individuals, including Neumann and Novomatic AG.
Ainsworth learned about these investigations in August 2019 and promptly informed gaming regulators. Despite the media speculation, Ainsworth asserted that after seeking legal counsel, no ASX announcement was deemed necessary, as the investigations were still in preliminary phases lacking factual evidence.
Key Points
- The WKStA’s investigations, initiated before Neumann became CEO, involve multiple parties associated with Novomatic AG.
- Ainsworth has continuously updated regulators on the status of the investigations in compliance with their operating procedures.
- The Ainsworth Board, after legal consultation, determined that no immediate disclosure to the market was required.
- Only one investigation remains open; however, it is expected to conclude without findings of wrongdoing.
- Neumann is fully licensed and has been found suitable in over 100 jurisdictions.
Why should I read this?
If you’re involved in the gaming industry or have a stake in Ainsworth, this article is essential. It not only provides clarity on the ongoing regulatory scrutiny surrounding their CEO but also highlights the company’s commitment to transparency and compliance in what could become a significant legal matter.