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CG Technology 5.5 Million Fine Approved
Friday January 24 ,2014 : NEVADA GAMING COMMISSION APPROVES C.G. TECHNOLOGY FINE (Update)
$5.5 million fine for 18 infractions of Nevada gambling regulations said to be a record for the state.
The $5.5 million fine imposed by the Nevada Gaming Control Board on CG Technology (formerly Cantor Gaming) in respect of 18 infractions of Nevada gambling regulations has been confirmed by the Nevada Gaming Commssion.
The infractions surfaced in a Board enquiry into events surrounding the activities of fired exec Mike Colbert and allegations that high volumes of illegal "messenger bets" were accepted by the company.
The infringements included poor management oversight of employees and questionable record keeping.
CG Technology chief executive Lee Amaitis was present at the Commission's hearing, when member Dr. Tony Alamo cautioned that the Commission would not hesitate to consider revoking its licence if CG Technology was again involved in unacceptable practices.
The huge fine is believed to be a record for the gambling state.
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