Long-standing Ainsworth Game Technology Ltd official Danny Gladstone and his colleague Mark Ludski are to leave their current roles “effective immediately,” the firm said in a Friday filing to the Australian Securities Exchange.
Mr Gladstone had most recently been serving as independent non-executive chair of the slot machine maker, and Mr Ludksi was company secretary.
Ainsworth Game said the two had told the board “they have decided to step down in light of recent media reports regarding personal payments made to them over eight years ago”.
The filing added: “Mr Gladstone and Mr Ludski have decided it is in the best interests of Ainsworth Game for them to resign so that Ainsworth Game can move past these distracting complaints in order to focus on the execution of its strategic priorities.”
In February, the Australian Financial Review had reported that Mr Gladstone had been paid AUD10 million (US$7.1 million currently) by way of bonus and Mr Ludksi AUD5 million by way of bonus, by Ainsworth Game’s founder Len Ainsworth. The report said the payments had been shortly after Austrian gaming equipment maker Novomatic AG took a majority stake in Ainsworth Game. That deal was finalised in early 2018.
There was no suggestion of wrongdoing by any of the parties in relation to the personal payments to Mr Gladstone and Mr Ludksi.
The firm stated on Friday: “The board wishes to acknowledge and express their appreciation to both Mr Gladstone and Mr Ludski for their leadership and significant contributions to Ainsworth Game over many years with the company.”
Mr Gladstone had served at Ainsworth Game since 2007, first as chief executive and executive director, then as non-executive director and chair since 2019.
Mr Ludski joined Ainsworth Game in 2000, spending approximately 22 years as chief financial officer (CFO).
Friday’s filing said Graeme Campbell had been appointed the new chair at Ainsworth Game.
He has been an independent non-executive director since 2007, and has more than 30 years of experience in corporate consultancy focused on hotels and registered clubs.
Lynn Mah, Ainsworth Game’s CFO, has been appointed interim company secretary and Andrew Kabega of BoardRoom Pty Ltd, a corporate services provider, has been named interim joint company secretary, effective “immediately,” added Friday’s filing.
The update also made reference to Kjerulf Ainsworth, a son of Ainsworth Game’s founder, who has been in dispute with the firm about the valuation of its stock.
The filing said that “allegations made by Mr Kjerulf Ainsworth” to the Forest County Potawatomi Gaming Commission in the United States, a tribal jurisdiction, regarding a U.S. subsidiary of the group – described as ‘AGT US’ – had been looked at by the regulator there.
“The commission renewed AGT US’s licence… on 28 May 2026 and confirmed that AGT US’s licence remains in good standing and that ‘there is no adverse impact to the regulatory suitability of AGT US within this jurisdiction’,” Ainsworth Game added.
Mr Kjerulf Ainsworth has increased his stake in Ainsworth Game to 9.55 percent, following a string of on-market acquisitions during May, according to a Wednesday filing.
