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.
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