Australia-based slot manufacturer Ainsworth Game Technology announced key changes in its leadership. After occupying the role since July 2019, now, Lawrence Levy communicated his intention to resign as CEO of the company, effective on September 10th. AGT further advised that it has been agreed with Harald Neumann that he will be appointed as the new Chief Executive Officer commencing October 1st 2021. Neumann has been a director of Ainsworth since February 2017.
Until then, Mark Ludski, CFO of this well-recognized gaming provider, will undertake the additional role of interim CEO to ensure continuity of leadership and oversight of the company’s operations.
About these changes in the company’s structure, Danny Gladstone, Chairman, Ainsworth, stated: “On behalf of the Board, we thank Lawrence for his contribution through challenging times. He has decided to resign for personal reasons, and we wish him well. We are fortunate to be able to appoint Harald as our new CEO. As the former successful CEO of Novomatic AG, our major shareholder, and a director of AGT, he brings a wealth of knowledge and experience to the role, with a thorough understanding of AGT. He will be able to seamlessly transition to the new position. Harald will be based in Las Vegas, US, where he can lead AGT in our largest market continuing to drive growth and recovery.”
Previously, Neumann was CEO of Austria-based gaming equipment maker and operator Novomatic AG. He left that position in February 2020. The Novomatic group is the controlling shareholder of Ainsworth.
Neumann will be responsible for heading the recovery process of the company, after the impact of COVID-19 pandemic. In this sense, on August 26th 2021, Ainsworth reported a full-year (ending June 30th, 2021) loss after tax of AUD53.4 million (US$38.7 million), up from AUD50.1 million (US$36.3 million) a year earlier. While facing “one-off non-cash impairment charges” during the period, the company said there was a clear EBITDA improvement in the second half of its financial year. The group’s aggregate revenue increased to AUD159.5 million (US$115.6 million), up 7 percent year-on-year. Revenue in the second half rose 21 percent compared to the first six months of the financial year. International markets contributed AUD120.5 million (US$87.3 million), in revenue for the year. North America and Australia remained the company’s strongest markets.