Sports Gaming Giant To Pay $5.5M Over Betting Ring

Law360, New York (January 14, 2014, 4:43 PM EST) -- Nevada-based sports betting operator CG Technology agreed Monday to pay $5.5 million to settle state gaming regulators’ allegations that it did not properly manage a former employee who operated an illegal gambling enterprise.

CG Technology agreed to pay the figure, admitting some of the counts in the complaint by the Nevada State Gaming Board, including a violations of certain Nevada Gaming Commission Regulations. The company, which earlier this month changed its name from Cantor Gaming, settled the Jan. 6 complaint, which alleged that former employee Michael...
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