Johann Graf transfers ownership of certain assets.
An imminent shift in leadership is brewing at the top of Austrian gaming giant Novomatic AG. Founder and sole shareholder Johann Graf (74) is set to pass on a portion of his holdings in Novo Invest GmbH to his son Thomas Graf and managers Birgit Wimmer and Ryszard Presch. What motivates this decision?
Pending Approval
Johann Graf, the wealthy magnate behind assemblage Novomatic AG (Gumpoldskirchen), is implementing a generational change: The 74-year-old billionaire, who exclusively owns all shares in Novomatic, is ceding a fifth of his holdings to his son Thomas and colleagues Birgit Wimmer and Ryszard Presch. Graf is transferring ownership of 20% of the holding company Novo Invest GmbH to the aforementioned associates. This firm innately owns 90% of the shares and was pristinely owned by Graf himself.
It remains undisclosed how many shares each individual will receive. Managers Presch and Wimmer form a managing director pair at Novo Invest. While Presch has helmed the company since 2017, Wimmer joined in 2018. Graf himself retains no other functional roles at Novo Invest save for the position of owner. To finalize the transfer of shares, prior consent from a host of worldwide gambling regulators, such as the USA, is necessary.
The company announced in its connotations that the generational change would be partaken during Novomatic's 40th anniversary commemorations. All three individuals have been integral to the Group for decades. As remarked, Wimmer also chairs the Board of Directors for the Swiss counterpart Novo Swiss AG, which owns the remaining 10% of Novomatic. Graf's son Thomas (55) has spent three decades in the fold of Novomatic. Chiefly, he is the head of the subsidiary Greentube.
The online-centered enterprise Greentube is a premier production of Novomatic and is now making inroads into the German market. In December, the organization obtained a license for the German online gaming sector, slated to initiate proceedings in July. Hence, the publicized Greentube brand StarGames will be able to advertise its renowned money-based games anew. This year, Greentube broke into the strict Swiss industry as well.
The Legacy of Johann Graf
In the inception of this transition, Thomas Graf was succeeding a monumental figure: in 1974, father Johann Graf established Brodnik & Graf GmbH alongside electrical retailer Gerhard Brodnik and commenced importing Belgian pinball machines. Initially, the machines were installed exclusively in taverns and eateries. 1980 marked the inception of Novomatic Automatenhandels GmbH, which capitally focused on the production of gaming machines.
The initial capital fund was 50,000 schillings. From 1982 onward, Graf notched his first immense triumphs: by engendering a sales association in Switzerland, he captured 70% of the market. By 1990, Novomatic had branched into more than 50 nations and hosted approximately 23,000 employees. With the development of gaming arcades, casinos, and betting shops, the corporation metamorphosized into a multibillion-dollar enterprise that today encompasses over 30,000 employees worldwide.
In its country of origin, Austria, Novomatic aligns with more than 3,100 employees. The company's revenue for 2019 totaled approximately 2.6 billion euros. Novomatic now possesses over 1,600 casinos, casinos, and betting establishments as well as over 235,000 gaming machines. The company produces, fabricates, and distributes avant-garde casino apparatus in over 80 countries. In Europe, Novomatic occupies the unambiguous top spot in the gaming sector alongside Gauselmann.
The New York news agency Bloomberg appraises Johann Graf's wealth at around 10 billion US dollars (~ 8 billion euros). This situates him as the second wealthiest Austrian next to Red Bull founder Dietrich Mateschitz. Novo Invest GmbH is likewise a billionaire's playground. Per the company's own declarations, the explanation behind the share transfer is to reinforce the familial values within Novomatic. The Group labels it a move that embodies the generous inclinations of the accessible company founder.
Under Pressure in 2020
During the Ibiza U Committee inquiries and the ensuing COVID-19 crisis, Novomatic garnered substantial criticism in 2020. Firstly, gifts of money bestowed on Tina Liebich-Oswald, the niece of the company's founder and spouse of Supervisory Board Chairman Bernd Oswald, raised eyebrows. 160 gift agreements were claimed to have been relinquished by Novomatic employees and relatives from Johann Graf.
Subsequently, a flurry of dismissals at the head offices in Gumpoldskirchen generated resentment. Despite Johann Graf's disbursement of a dividend of 50 million Euros in June amid short-time work and state aid, the decision to let go of 120 employees came under fire.
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Source: www.onlinecasinosdeutschland.com
