Ainsworth CEO Under Fire for Alleged Ties to Ibiza Affair

Ainsworth Game Technology’s leadership has found itself in hot water as the slots manufacturer’s chief executive officer is being investigated over corruption charges.

Neumann Was Suspected of Ties to the Ibiza Affair

Harald Neumann, the CEO of Ainsworth, has been suspected of ties to the Ibiza affair, a prominent political scandal involving the gaming industry. The original scandal was uncovered by undercover reporters who filmed high-profile politicians agreeing to provide gaming companies with favorable contracts in return for media support.   

Neumann, who was heading Novomatic at the time, is believed to have been involved in the Ibiza affair. For context, Neumann served as CEO of Novomatic between 2014 and 2020. Novomatic is among Ainsworth’s biggest shareholders and is currently on the way to acquiring the latter company. The deal values Ainsworth at $1.00 per share and is expected to close in the second half of the year.

Due to Neumann’s reported involvement in the Ibiza affair, the Austrian Economic and Corruption Prosecutor’s Office launched an investigation into the matter.

Ainsworth Is Confident That No Evidence of Wrongdoing Will Be Discovered

The investigation into Neumann’s alleged ties to the scandal was first announced by the Australian Financial Review and eventually confirmed by Ainsworth itself. The company justified not disclosing the matter to its shareholders with the fact that the probe is still preliminary and does not confirm actual ties between its CEO and the political scandal.

Ainsworth further stated that its decision to not disclose the matter earlier was supported by legal advice. However, the manufacturer confirmed that all relevant regulators have been informed of the probe.

Ainsworth also mentioned that most of the investigations into Neumann, except for one, have been discontinued. It moreover emphasized that the discontinued probes found no evidence of any wrongdoing.

Ainsworth expressed confidence that the final investigation will likewise find no violations.

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.

Ainsworth statement

Ainsworth added that it had thoroughly checked Neumann’s background before appointing him as chief executive. The company concluded that its confidence is also echoed in all of the jurisdictions where Neumann is fully licensed.