CG Technology agrees 2m fine with Nevada Gaming Commission
The Nevada Gaming Commission (NGC) has accepted a $2m proposed settlement by CG Technology for violations related to problems with its sports betting technology. The new settlement of $2m is eight times the original.
As a result of the agreement, CG will be allowed to continue booking wagers in Las Vegas. Its sportsbooks in The Cosmopolitan, Venetian, Tropicana, Palms and Hard Rock will remain open.
The original settlement fine of $250,000 was rejected in August, as the NGC did not think it was penal enough. The company’s license to operate in Nevada appeared to be in jeopardy after having already paid millions of dollars in fines.
CG Technology’s settlement was to deal with several violations, including allowing out-of-state mobile wagers, accepting bets after an event was closed and paying out incorrectly.
CG Technology was also found guilty of taking wagers from outside the state.
Parikshat Khanna, CEO of CG Technology, said: “We are satisfied with the resolution agreed to today by the commission. We remain committed to the Nevada sportsbook business and the long-term partnerships we have established with some of the finest resort operators in the world.”