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Ainsworth Game Technology is facing scrutiny as CEO Harald Neumann becomes the subject of a corruption investigation by Austrian authorities. The company confirmed the probe today, June 16, 2025, following initial reports from the Australian Financial Review.
This investigation is linked to Neumann’s previous role at Novomatic AG and is part of a broader scandal known as the Ibiza affair, where opposition politicians were secretly recorded discussing lucrative government contracts in exchange for favorable media coverage.
The investigation, conducted by Austria’s Economic and Corruption Prosecutor’s Office (WKStA), began in 2019 and has involved over 100 individuals. Ainsworth acknowledged that it became aware of the situation through Austrian media in August 2019 and promptly informed relevant gaming regulators. Despite this, the company has faced criticism for not disclosing the ongoing investigation to the Australian Securities Exchange (ASX) sooner.
Novomatic is a major shareholder in Ainsworth and launched a takeover bid for the business in April. They, too, have been under investigation by Austrian authorities.
“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,” Ainsworth stated.
“Current information available on the one remaining investigation indicates that WKStA will finalise its examination on the established facts prior to submitting its proposal to the necessary Austrian regulatory authorities for approval to have this last investigation discontinued.”
Neumann Was Found Suitable in Over 100 Jurisdictions According to Ainsworth
The company defended its choice not to disclose the ongoing investigation to shareholders, arguing that the investigations were preliminary and lacked sufficient clarity to necessitate immediate notification. Ainsworth emphasized that it communicated the situation to all relevant regulators and has consistently monitored the issue through its Regulatory Compliance Committee (RCC).
The RCC conducted a thorough probity investigation and subsequently recommended Neumann for the CEO position, asserting, “Mr. Neumann is licensed and has been found suitable in over 100 jurisdictions where licensure is required, with full knowledge of the investigations.”
“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 no findings of wrongdoing.”
As Ainsworth moves forward, the implications of Neumann’s leadership and the ongoing investigations will be critical, especially given the recent offer from Novomatic to acquire the remaining 47.1% of Ainsworth for $1 per share.
This proposal has sparked backlash from smaller institutional investors, who accuse the company of misleading them about its true value. In response, Len Ainsworth’s son, Kjerulf Ainsworth, has emerged as a significant shareholder, aiming to challenge the takeover. With the board supporting an alternative offer, the outcome remains uncertain as tensions continue to rise.
Source: Next.io
