Australian maker of slot machines Ainsworth Game Technology Ltd says Lawrence Levy (pictured) began work on Monday as its chief executive, while his predecessor in that job, Danny Gladstone, becomes a non-executive director.
Ainsworth told the Australian Stock Exchange on Monday that Mr Levy’s assumption of the post of CEO of the company depended on the consent of the regulators. The company announced the appointment of Mr Levy in April.
Ainsworth also said in Monday’s filing that the executive Mr Levy was replacing as chief executive, Danny Gladstone, would remain on the board of the company, taking a non-executive director’s seat that day.
The company said an independent non-executive director, Heather Scheibenstock, had given notice of her intention to resign her seat on the board at the annual general meeting for 2019.
The company announcement on Monday quotes Ainsworth chairman Graeme Campbell as saying of Mr Levy: “Under his leadership we look forward to Ainsworth strengthening its position as a major provider of innovative gaming technology to the global market.”
It quotes Mr Campbell as saying of Mr Gladstone: “We look forward to continuing to utilise Danny’s vast industry experience and strong customer relationships as a non-executive director.”
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”Our own consensus is that any newcomers to this [junket] sector should be corporatised, and should be financially sound and able to commit a higher guarantee deposit”
Kwok Chi Chung
President of junket trade body, the Macau Association of Gaming and Entertainment Promoters