The CEO of one of Australia’s largest gambling companies, Tabcorp, resigned after allegedly making a crude joke about performing a sex act on a female Victorian gambling regulator.
Adam Rytenskild resigned last week after allegedly making sexually inappropriate comments – which he does not remember making – about gambling regulator Annette Kimmitt, the chief executive of the Victorian Gambling and Casino Control Commission (VGCCC).
“He (allegedly) said he would perform oral sex on Annette Kimmitt if they got the Victorian license back,” a well-placed source told Daily Mail Australia.
The comment is believed to relate to a looming decision that would impact the company’s profitability during a strategy meeting last year.
The comment is said to have been made in the presence of other senior employees, some of whom are female.
Adam Rytenskild (pictured) has been forced to resign over claims of inappropriate and offensive language
Annette Kimmitt is the CEO of the Victorian Gambling and Casino Control Commission
The betting giant said its board became aware of “inappropriate and offensive language used by Mr Rytenskild in the workplace” and felt it was inconsistent with its continued leadership.
Mr Rytenskild resigned from the ASX-listed bookmaker on Thursday but said he did not remember making the offensive comments, which were not detailed at the time.
He is believed to be paid more than $2 million a year and he also owns $3.36 million worth of stock. His resignation will cost him as much as $10 million in unvested stock and options.
Ms Kimmitt declined to comment when contacted by Daily Mail Australia for comment last week.
VGCCC chairman Fran Thorn said the Commission recognized Mr Rytenskild’s dismissal following comments he allegedly made about a supervisory officer.
“The Commission will continue to regulate as a fierce advocate of the public interest, ensuring integrity, security and fairness in the gambling industry,” she said.
“I am proud to chair an organization that champions strong, female leadership and a gender-inclusive, respectful workplace culture.”
Last December, Tabcorp was awarded the state betting license for the next twenty years.
Adam Rytenskild is pictured presenting a trophy to trainer Annabel Neasham
Chairman Bruce Akhurst has been forced to take on the role of CEO as the company searches for a new CEO and managing director
Mr. Rytenskild was appointed CEO in June 2022 and held the position for almost two years.
The business high-flyer, who lives on Sydney’s leafy north shore, dropped out of university and started flipping burgers at the age of 19 to support his young family.
“I started on the forecourt flipping burgers at South Tweed Heads Mobil and worked my way up from there,” Mr Rytenskild said of getting the top job.
Chairman Bruce Akhurst has been forced to take on the role of CEO of Tabcorp as the company searches for a new boss.
‘The board regrets that Mr Rytenskild’s employment has ended in this way and recognizes his commitment to the growth of Tabcorp for more than twenty years, including the last two years as MD and CEO, and his contribution to the transformation of the company,” said Mr Akhurst.
Mr Rytenskild said Tabcorp had been a big part of his life for years and he believed in the journey the company was on.
Tabcorp did not respond to a request for comment.