{"id":86316,"date":"2018-08-21T14:30:26","date_gmt":"2018-08-21T21:30:26","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=86316"},"modified":"2018-08-21T15:13:39","modified_gmt":"2018-08-21T22:13:39","slug":"cg-technology-to-sweat-possible-license-revocation","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/cg-technology-to-sweat-possible-license-revocation\/","title":{"rendered":"CG Technology to Sweat Possible License Revocation at Nevada Gaming Commission Hearing Thursday"},"content":{"rendered":"

Las Vegas sportsbook operator CG Technology<\/a> (CGT) will face the judgment of the Nevada Gaming Commission (NGC) on Thursday, knowing its license to operate is on the line.<\/p>\n

\"CG
CG Technology could lose the right to operate its sportsbook at The Venetian (pictured), along with those at a host of other Las Vegas casinos if the Nevada Gaming Control Board opts to revoke its license on Thursday. (Image: CG Technology\/LVS Corp)<\/figcaption><\/figure>\n

Last week, the Gaming Control Board ordered the CGT to dump all its sports betting technology over numerous compliance failures, recommending a fine of $250,000.<\/p>\n

CGT has admitted four infractions including accepting wagers after games were over, taking out-of-state bets on its Nevada-only mobile platform, and miscalculating customer payouts.<\/p>\n

The company operates sports books at several major Strip casinos, including The Venetian, The Cosmopolitan, The Palms, The Tropicana, and The Hard Rock.<\/p>\n

The control board has said the company must scrap \u201cevery component\u201d of its wagering technology and partner with a third-party tech provider within the next six months if it wishes to continue operating its sports books in Nevada.<\/p>\n

Three Strikes and You\u2019re Out? <\/strong><\/h2>\n

But could the gaming commission go one step further and revoke its license? It certainly has the power to do so — and after all, this isn\u2019t exactly CGT\u2019s first rodeo. It\u2019s the third time in five years it\u2019s been hauled in front of Nevada regulators and fined.<\/p>\n

\n

In January 2014, CGT agreed to pay an industry-record $5.5 million for allowing a key executive to run an illegal sports wagering operation, while using CGT\u2019s Nevada sports books to make and lay off bets from his high-rollers.<\/p>\n<\/div>\n

Federal prosecutors separately fined CGT $22.5 million to settle charges of money laundering and illegal gambling over the same issue.<\/p>\n

Culture Change<\/strong><\/h2>\n

In July 2016<\/a>, CGT was ordered to pay $1.5 million and establish an escrow account to pay bettors whose winnings had been miscalculated. For a three-year period up until mid-2015, a glitch in the CG\u2019s systems caused it to shortchange its customers 20,000 times on round robin parlay bets, amounting to $700,000. The company was aware of the fault but failed to act on it.<\/p>\n

On that occasion, the gaming commission demanded the resignation of president and CEO Lee Amaitis and called for \u201ca culture change\u201d within the company.<\/strong><\/p>\n

The primary reason the control board did not recommend license revocation over the latest infractions is because the panel said it noticed progress in CGT\u2019s corporate governance and it commended the company for self-reporting the violations, despite knowing what might be at stake.<\/p>\n

\u201cThere seems to be a sincere effort to comply with the Gaming Control Act,\u201d it said.<\/p>\n

Nevada gaming commissioners often concur with the recommendations of their colleagues on the control board panel, but CGT execs will have to hope they don\u2019t make an exception in this case.<\/p>\n","protected":false},"excerpt":{"rendered":"

Las Vegas sportsbook operator CG Technology (CGT) will face the judgment of the Nevada Gaming Commission (NGC) on Thursday, knowing its license to operate is on the line. Last week, the Gaming Control Board ordered the CGT to dump all its sports betting technology over numerous compliance failures, recommending a fine of $250,000. CGT has […]<\/p>\n","protected":false},"author":36,"featured_media":86318,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,18,13592,1074,16693],"tags":[],"acf":[],"yoast_head":"\nCG Technology to Sweat Possible Nevada License Revocation<\/title>\n<meta name=\"description\" content=\"CG Technology could lose its license on Thursday if the Nevada Gaming Commission decides its three strikes and your out.\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CG Technology to Sweat Possible Nevada License Revocation\" \/>\n<meta property=\"og:description\" content=\"CG Technology could lose its license on Thursday if the Nevada Gaming Commission decides its three strikes and your out.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/cg-technology-to-sweat-possible-license-revocation\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2018-08-21T21:30:26+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2018-08-21T22:13:39+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/08\/cg.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1184\" \/>\n\t<meta property=\"og:image:height\" content=\"791\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Philip Conneller\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@casinoorgphilc\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Philip Conneller\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/cg-technology-to-sweat-possible-license-revocation\/\",\"url\":\"https:\/\/www.casino.org\/news\/cg-technology-to-sweat-possible-license-revocation\/\",\"name\":\"CG Technology to Sweat Possible Nevada License Revocation\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/cg-technology-to-sweat-possible-license-revocation\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/cg-technology-to-sweat-possible-license-revocation\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/08\/cg.jpg\",\"datePublished\":\"2018-08-21T21:30:26+00:00\",\"dateModified\":\"2018-08-21T22:13:39+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/58769b72851c8cf117fb58ca150ebf8b\"},\"description\":\"CG Technology could lose its license on Thursday if the Nevada Gaming Commission decides its three strikes and your out.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/cg-technology-to-sweat-possible-license-revocation\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/cg-technology-to-sweat-possible-license-revocation\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/cg-technology-to-sweat-possible-license-revocation\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/08\/cg.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/08\/cg.jpg\",\"width\":1184,\"height\":791,\"caption\":\"CG Technology could lose the right to operate its sportsbook at The Venetian (pictured), along with a host of other Las Vegas casinos if the Nevada Gaming Control Board opts to revoke its license on Thursday. 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