Ainsworth comments on historical investigations into CEO Harald Neumann
Summary
Ainsworth Game Technology has addressed recent media reports regarding historical investigations led by the Austrian Economic and Corruption Prosecutor’s Office into CEO Harald Neumann and Novomatic AG. The investigations, which began in 2019, involved over a hundred individuals.
Ainsworth confirmed it was made aware of the investigations back in August 2019 and has communicated with gaming regulators since then. They noted that the investigations were deemed insufficiently conclusive to warrant a formal announcement.
It was also highlighted that the investigations started before Neumann was appointed CEO in October 2021, and recent updates indicate that nearly all investigations have been closed without findings of wrongdoing, apart from one ongoing case.
Key Points
- Ainsworth acknowledges the investigations by the WKStA that include CEO Harald Neumann.
- The company has kept gaming regulators updated since it first learned of the investigations.
- A legal review determined no announcement was needed about the investigations due to lack of definitive evidence.
- Neumann’s appointment as CEO came after a probity investigation confirmed his regulatory suitability.
- Most investigations related to Neumann and Novomatic have been closed; only one remains ongoing with a conclusion expected soon.
Why should I read this?
If you’re in the gaming industry, knowing how Ainsworth is navigating these investigations is crucial. The article sheds light on how companies manage regulatory scrutiny and what that means for leadership in the industry. Plus, we’ve done the legwork, so you don’t have to wade through the murky waters of legal jargon!