News

Record Fine For Sportsbook Operator

View Comments
(photo: KXNT/Smith)

(photo: KXNT/Smith)

Get Breaking News First

Receive News, Politics, and Entertainment Headlines Each Morning.
Sign Up

LAS VEGAS (AP) — The Nevada Gaming Commission has given final approval to a record $5.5 million fine levied on CG Technology to settle a complaint regarding illegal sports betting.

The commission unanimously approved the settlement with the company formally known as Cantor Gaming on Thursday. It is the largest such fine 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 This material may not be published, broadcast, rewritten or redistributed.

View Comments
blog comments powered by Disqus
Follow

Get every new post delivered to your Inbox.

Join 1,211 other followers