Luck starts running out for butcher who became gambling billionaire
Austrian tycoon rakes in smaller profits amid allegations of corruption and needs to refinance about €1bn in debt
Vienna — Billionaire Johann Graf has never had to fight on so many fronts simultaneously.
The ordinary-man’s gambling company, Novomatic, the 73-year-old Austrian butcher-turned-tycoon created four decades ago, is raking in smaller profits as the pandemic drives people away from slot machines in casinos from Las Vegas to Macau. His company is also battling allegations of corruption, its CEO has left and it needs to refinance about €1bn in debt...