Nevada’s gaming watchdogs have given the green light to a top executive at Novomatic, even as lingering questions hang over a years-old criminal investigation in Austria involving the gaming giant’s past leadership.
On Thursday, the Nevada Gaming Commission voted to approve Stefan Krenn’s licensing as an executive board member at Novomatic. The nod came with some scrutiny — and a few uneasy questions — as the company moves ahead with its planned acquisition of slot machine maker Ainsworth Game Technology (AGT).
What’s in the Background? A Long Shadow from Austria
This all goes back to 2019, when Novomatic — one of the biggest players in global gaming tech — found itself at the centre of a criminal probe in Austria.
At the heart of it were allegations that Novomatic’s former CEO, Harald Neumann, and company founder Johann Graf tried to influence political appointments in their favour. Neumann stepped down from Novomatic and later became CEO of AGT in 2021. That company, now majority-owned by Novomatic, is in the process of being fully acquired.
Krenn, who was not implicated in any wrongdoing, told the Nevada commissioners he had no involvement and was never under suspicion. Still, it was clear the regulators weren’t letting this pass without questions.
One Case Closed, One Still Open – But Not for Long?
Michael Rohregger, Novomatic’s legal counsel, joined the hearing remotely from Vienna to help clear the air.
He explained that Austrian prosecutors had dropped four of the five investigative threads involving Neumann. The final case, he said, isn’t even about Novomatic — it’s about Neumann’s role on the supervisory board at another firm, Casinos Austria.
The one remaining issue? It’s stalled. Rohregger said, “In that one remaining item, the prosecutor proposed to also close the file, but the second prosecutor asked them to investigate specific questions a little further.”
The implication? It’s procedural now. Not accusatory. Not dramatic. Not explosive. Just dragging on.
Regulators Still Had Questions — And Warnings
George Markantonis, one of the commission members, didn’t mince words. He pointed out that Neumann’s name pops up “in every single legal thing” they’ve reviewed tied to Novomatic.
“I appreciate your assurances,” he said to Krenn, quickly clarifying that he wasn’t suggesting Krenn himself was involved. But the message was clear — this isn’t something Nevada regulators are brushing off.
Commissioner Rosa Solis-Rainey echoed the concerns but said she was satisfied with the answers. Brian Krolicki, another member of the panel, struck a more supportive tone.
“I applaud your background,” he told Krenn. “Your journey through Novomatic has been exemplary, and I am delighted to support your application.”
What’s Actually Happening With the AGT Deal?
While the Commission spent most of its time dissecting the past, there’s a real business deal in motion here. Novomatic already owns 53% of AGT. In April, it moved to buy the rest.
Krenn, who now officially joins Novomatic’s executive board with Nevada’s approval, will likely play a role in overseeing that acquisition as it closes.
AGT, based in Australia, has stood by Neumann. In fact, when media outlets down under picked up the story in June, the company called it old news and said they expected the last Austrian case to be dismissed too.
Here’s what we know about the acquisition timeline so far:
| Date | Event |
|---|---|
| 2019 | Austrian investigation into Novomatic initiated |
| 2021 | Harald Neumann leaves Novomatic, joins AGT as CEO |
| April 2025 | Novomatic announces plans to acquire remaining AGT shares |
| July 2025 | Nevada Gaming Commission approves Krenn as Novomatic executive |
Commission Balancing Act: Due Diligence vs Business Momentum
It’s a tightrope act — approving key executives while dealing with shadows from the past.
Nevada’s Commission made it clear they’re keeping tabs on the Austrian probe, but also recognised the importance of stability for companies like Novomatic operating in their state. After all, the Nevada gaming scene doesn’t live in a vacuum. What happens in Austria, in Australia — it matters in Vegas.
• The Commission’s vetting process, especially for foreign companies, aims to prevent reputational and financial risk creeping into Nevada’s billion-dollar gaming industry.
Still, the regulators seemed eager to see things move forward. There’s a deal on the table. A new executive approved. And a criminal investigation that, fingers crossed, will finally run out of road by the end of the year.
Stefan Krenn, the Man in the Middle (Sort of)
Krenn himself wasn’t exactly front and centre in Thursday’s discussion. Which, in a way, is a good thing.
The Austrian lawyer has been with Novomatic for years, but in a behind-the-scenes, general counsel-type role. No headlines. No heat.
Now, as a full-fledged executive board member, Krenn will be a bit more public. He told the Commission he’s one of three people on that board. No drama. Just structure.
“I’m pleased to be considered suitable,” Krenn said quietly during the hearing. Just one sentence. No need for more.
And that’s how this licensing drama — at least for now — quietly drew to a close.
