Ainsworth responds to reports linking CEO and major shareholder to Austrian corruption probe
The company says most investigations into Mr Neumann and Novomatic have been closed with no findings of wrongdoing.
Key points:
– Ainsworth has acknowledged media reports referencing an Austrian corruption investigation involving CEO Harald Neumann and controlling shareholder Novomatic AG
– The company says the investigations are longstanding, with most already discontinued by Austrian authorities
– Ainsworth maintains that it has complied with all regulatory disclosure and probity requirements since 2019
Ainsworth Game Technology has issued a statement addressing recent media reports regarding a long-running investigation by Austrian authorities involving its current CEO Harald Neumann and major shareholder Novomatic AG.
The investigations, which began in 2019 and were initiated by Austria’s Economic and Corruption Prosecutor’s Office (WKStA), reportedly targeted more than 100 individuals. Mr Neumann was serving as a non-executive director of Ainsworth at the time.
Ainsworth said it became aware of the matter in August 2019 through Austrian media and promptly notified relevant gaming regulators.
According to the company, updates have since been provided to regulators in jurisdictions where it holds licences, in line with its ongoing compliance obligations.
Ainsworth said in a statement: “Based on information from WKStA, we are advised that all (except for one) of the investigations involving Mr Neumann and/or Novomatic AG have been discontinued with the necessary approvals being received from the relevant Austrian regulatory authorities with no findings of wrongdoing.”
Good to know: The final investigation remains under review, with a decision from Austrian authorities still pending
Ainsworth added that Mr Neumann underwent a probity review prior to his appointment as CEO in October 2021 and is currently licensed in over 100 jurisdictions.
Novomatic, which owns 52.9% of Ainsworth, is currently awaiting shareholder approval for a full acquisition of the Australian gaming firm. The transaction, first announced in April, would see Novomatic purchase the remaining shares at $1.00 apiece. The deal is expected to close by the end of Q2 2025.
Ainsworth recently forecasted a $14m profit before tax for H1 2025, driven by improved performance in the Australian market following the release of its new Raptor cabinet. International revenues, however, remain under pressure due to ongoing challenges in markets like Mexico and parts of Europe.
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