Ainsworth Game Technology parts ways with CEO Herald Neumann

• ATG was turned down for a license renewal in Nevada last week
• The company has announced it is looking for a new CEO, following NGCB’s recommendation about Neumann’s replacement
• ATG’s COO, Ryan Comstock, will serve as the interim chief executive

Ainsworth Game Technology (AGT) suffered a blow at the hands of the Nevada Gaming Control Board (NGCB) last week, with the regulator deciding not to renew the supplier’s license in the state, a rare event, especially considering AGT’s stature.

ATG commences search for new top executive

This has prompted a swift response from the company, with its boss, Harald Neumann, announcing that he is parting from the company. In a filing, ATG stated that it is now seeking a new leader, while its Chief Operating Officer, Ryan Comstock, will serve in an interim capacity.

Comstock’s interim CEO role will end once ATG is happy with a fitting replacement. Neumann’s decision is not necessarily his own, as the NGCB did recommend that he step down following the licensing review and its outcome.

Yet, the decision is not taken on a whim, with Neumann at least implicated in bribery and illicit political funding during his time at the helm of Novomatic, an Austrian supplier. Although these remain allegations, they have been part of what motivated the NGCB not to renew the supplier’s license.

Novomatic supposedly made donations to the People’s Party, a right-wing political party, which was allegedly asked to help resolve a case involving the company. The accusation was "based on the suspicion that a responsible person at a gambling company offered donations to a political party in return for support from officials of the Republic of Austria in a tax claim case abroad, which is threatening the company."

While ATG has not commented on what its immediate plans for Nevada are, Comstock is a trusted insider and company veteran who joined all the way back in 2012 and made it to his current position of COO in 2018.

Comstock will now steer the company through the temporary difficulty of finding a replacement chief executive, as ATG remains committed to developing outstanding products for the industry.

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