Ainsworth comments on historical investigations into CEO Harald Neumann
Summary
Ainsworth Game Technology has addressed recent media coverage about ongoing investigations by the Austrian Economic and Corruption Prosecutor’s Office (WKStA) involving over 100 individuals, including CEO Harald Neumann. The investigations, initiated in 2019, have been under scrutiny as part of Ainsworth’s adherence to compliance and regulatory obligations.
The company revealed that they have been communicative with regulators since becoming aware of the investigations in 2019 and have continuously monitored the situation. Importantly, all but one of the allegations concerning Neumann and Novomatic AG have been discontinued without findings of wrongdoing.
Key Points
- Ainsworth acknowledges media reports stemming from WKStA investigations starting in 2019.
- Harald Neumann, CEO since October 2021, was a non-executive director when the investigations started.
- No ASX announcement was initially deemed necessary due to the investigations being speculative and preliminary.
- Only one investigation remains active, with indications that it will also be discontinued soon.
- Neumann is licensed and has been deemed suitable in multiple jurisdictions despite these ongoing inquiries.
Why should I read this?
If you’re in the gaming or business sectors, this article sheds light on significant regulatory matters affecting Ainsworth and its leadership. Understanding the background and outcome of these investigations could be crucial for investors and stakeholders looking to grasp Ainsworth’s position in the market.