Harald Neumann resigns as Ainsworth CEO after scrutiny from Nevada gaming regulator
The Nevada Gaming Control Board recommended that Neumann withdraw his gaming licence renewal application after a tense hearing.
US.- Harald Neumann has resigned as CEO of Ainsworth Game Technology with immediate effect. The move comes after the Nevada Gaming Control Board (NGCB) recommended that he withdraw his application to renew his gaming licence in the US state following a tense hearing.
The Nevada regulator had described Neumann as “arrogant” and “evasive” and deemed him “unsuitable” to hold a licence the state. It accused him of withholding key personal and financial information, including undisclosed properties and payments and criticised his interactions with investigators as “hostile and misleading.”
Ainsworth confirmed the resignation in a letter to the Australian Securities Exchange. Chief operating officer Ryan Comstock, who has been with the Australian gaming supplier since 2012, will assume the role of acting CEO. The company said it continues to review its governance and compliance procedures.
Neumann has been under investigation in Austria amid allegations of possible corruption linked to his former role as CEO of Novomatic. He has denied wrongdoing, but the ongoing probe raised concerns about his suitability to lead a licensed gaming company in the United States.
Neumann was CEO of Gumpoldskirchen-based Novomatic from October 2014 to February 2020. At tyhe time of his resignation, he said he was stepping down due to family reasons. He joined Ainsworth as a non-executive director nearly a year later and became CEO in October 2021.
Since then Novomatic has been attempting to acquire all remaining shares of Ainsworth that it didn’t already own. In September, its stake rose to around 60 per cent but there has been some disagreement between Neumann and minority shareholder Kjerulf Ainsworth, the son of the company’s founder Len, who claimed that Novomatic’s offer undervalued the company.
