Sports Gaming Giant Settles Regulator Suit Over Betting Ring

Law360, New York (January 7, 2014, 7:55 PM EST) -- Nevada's largest sports betting operator CG Technology tentatively agreed Tuesday to settle a lawsuit brought by Nevada gambling regulators alleging the company failed to properly manage its former director of sports books who was involved in an illegal sports betting ring.

The company, which changed its name from Cantor Gaming on Monday, settled a complaint also brought Monday by the Nevada State Gaming Control Board that alleged that former employee Michael Colbert operated an illegal gambling enterprise. Colbert, who has not yet been sentenced, was arrested...
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