After six years in the post, Harald Neumann resigned as CEO of Austrian gaming supplier Novomatic, citing unspecified family reasons. The resignation was effective February 29.
Bernd Oswald, chairman of the supervisory board, commented, “Mr. Neumann made a significant contribution to the successful expansion of the group. His personal wish to resign from his position at the end of the month was granted with regret.”
Neumann will continue to have supervisory board functions and to advise the company on international projects, according to the company statement.
COO Ryszard Presch and CFO Johannes Gratzl will take over the management board responsibilities and will lead the company as a management team.
The Philippines has once again been put on the Financial Action Task Force’s (FATF) grey list despite having recently passed legislation to improve its anti-money laundering controls, with supervision of junkets cited as an area of concern.
For this edition of our magazine, we focus on Southeast Asia, with a particular look at the Philippines. The country’s casino industry has been among the hardest hit in Asia, with the integrated resorts in Manila’s Entertainment City having remained mostly closed to the general public since the beginning of the crisis last year.
The world is bouncing back, or at least coming to grips with the fact that going forward not much will be the same as before. Commendably, this industry quickly understood the need to adapt to a new normal, and that the days of targeting the low hanging fruit of the VIP sector are gone.