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Cantor Gaming $5.5 million fine for sports betting irregularities
Tuesday January 14 ,2014 : COLBERT AFFAIR EXPENSIVE FOR CANTOR GAMING (Update)
In what is believed to be one of the heaviest fines yet imposed by the Nevada Gaming Control Board, CG Technology (formerly Cantor Gaming) will have to cough up $5.5 million to clear its slate on 18 gambling administrative and records irregularities it is accused of perpetrating by the regulator.
The irregularities filed by the NGCB investigators include a lack of oversight on employees by management, an apparent reference to the illegal "messenger bet" activities to which former senior exec Michael Colbert has admitted
The settlement announced Monday will be the largest in state history and follows negotiations between the Board and CG Technology.
It will top the $5 million fine The Mirage paid to state regulators in 2003 for failing to file thousands of currency transaction records with the IRS.
NGCB investigators concluded that Cantor CEO Lee Amaitis "...either knew or should have known that Colbert was conducting the illegal activities described in the indictment."
The State newspaper reports that Cantor did not directly admit guilt to all the charges but acknowledged that regulators could have proved them all. The company said it has changed its internal practices in response to the sports betting scandal.
Cantor Gaming announced just hours before the NGCB complaint was made public on January 6, that it was re-branding to CG Technology.
Spokeswoman Hannah Sloane said the company was pleased to have put the episode behind it.
CG Technology is Nevada's largest sports book operator and was the first company licensed by state regulators to manufacture and operate a mobile gambling system.
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Final 12 For MPNPT Morocco -
Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).
MPNPT Morocco Updates -
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MPN Poker Tour Morocco Day 1A -
The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.
2018 MPN Poker Classic -
The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.
PDC and Sportradar Renew Deal -
Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data
Poker Yaar Joins MPN -
Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.
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