Ainsworth comments on historical investigations into CEO Harald Neumann
Summary
Ainsworth Game Technology recently responded to media coverage concerning investigations led by the Austrian Economic and Corruption Prosecutor’s Office (WKStA) that began in 2019. CEO Harald Neumann was named as part of these investigations which initially involved over 100 individuals linked to Novomatic AG, Ainsworth’s controlling shareholder.
Since becoming aware of these investigations, Ainsworth has maintained communication with gaming regulators. The company reported that no substantial evidence has emerged to support any allegations against Mr Neumann, affirming regular updates have been provided to relevant regulatory bodies.
Key Points
- Investigations began in 2019 and included Ainsworth CEO Harald Neumann.
- Ainsworth disclosed the investigations to gaming regulators back in August 2019.
- Legal advice indicated that no immediate ASX announcement was necessary due to the lack of substantial evidence.
- Most investigations involving Neumann or Novomatic AG have been discontinued with no findings of wrongdoing.
- Neumann has been cleared by regulators as suitable to lead Ainsworth since his appointment in October 2021.
Why should I read this?
If you’re keeping an eye on the gaming industry, this article is a must-read. Ainsworth’s transparency around the investigations ties into broader themes of corporate governance and accountability in the gaming sector. With regulatory scrutiny becoming increasingly significant, understanding these developments can provide valuable insights into industry standards and leadership integrity.