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Cantor Gaming To Pay Fine

CG Technology Settles With Nevada Gaming Control Board

LAS VEGAS (AP) — CG Technology, formerly Cantor Gaming, has agreed to pay Nevada gambling regulators $5.5 million to settle a complaint regarding illegal sports betting.

The settlement, announced on Monday, will be the largest in state history.

Earlier this month, the Nevada Gaming Control Board filed an 18-count complaint against the company. Regulators said Cantor failed to adequately supervise its former sports book director, who was involved in a nationwide illegal sports betting ring.

Michael Colbert, formerly vice president of race and sports risk management, was arrested in 2012 and pleaded guilty to participating in a sports betting conspiracy.

Regulators said the company’s lack of supervision over Colbert violated state gambling rules.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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