Ainsworth comments on historical investigations into CEO Harald Neumann
Summary
Ainsworth Game Technology has acknowledged recent media articles about investigations initiated in 2019 by the Austrian Economic and Corruption Prosecutor’s Office (WKStA). These investigations involve over 100 individuals, including CEO Harald Neumann and Novomatic AG. Ainsworth became aware of these investigations in August 2019 and has kept gaming regulators informed.
Despite the ongoing investigations, Ainsworth has stated that there was no market disclosure needed at the time as the investigations lacked substantial evidence. The Board monitored the situation and received updates regularly from legal representatives.
Mr Neumann, appointed CEO in October 2021, was deemed suitable from a regulatory standpoint. The investigations concerning him and Novomatic AG have mostly been discontinued.
Key Points
- Ainsworth acknowledges recent media articles regarding investigations into CEO Harald Neumann.
- The investigations began in 2019, focusing on over 100 individuals, including Neumann and Novomatic AG.
- Ainsworth communicated these developments to gaming regulators since becoming aware of the investigations.
- The Board decided no immediate disclosure to the market was necessary based on legal advice.
- All but one investigation involving Neumann has been discontinued, with no findings of wrongdoing thus far.
Why should I read this?
Want to stay in the loop about potential regulatory issues in the gaming industry? Ainsworth’s comments on these investigations provide insight into how companies navigate legal complications and maintain transparency with regulators. This article sheds light on the significance of keeping the public informed about such matters, particularly for stakeholders and investors.