{"id":93008,"date":"2018-11-19T15:46:41","date_gmt":"2018-11-19T23:46:41","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=93008"},"modified":"2018-11-19T16:10:40","modified_gmt":"2018-11-20T00:10:40","slug":"cg-technology-swerves-license-revocation-with-2-million-fine","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/cg-technology-swerves-license-revocation-with-2-million-fine\/","title":{"rendered":"CG Technology Swerves License Revocation With $2 Million Fine After Regulators Make Company Sweat"},"content":{"rendered":"

Nevada sports book operator CG Technology — formerly Cantor Gaming — breathed a sigh of relief on Thursday when the Nevada Gaming Commission (NGC) accepted the company\u2019s offer<\/a> of $2 million to settle serious compliance failures but left its gaming license intact.<\/p>\n

\"CG
What were the odds of that? CG Technology gets away with a $2 million fine after sweating the revocation of its license by the NGC. It’s the sixth-highest such fine ever imposed. In five years, CGT has also paid the first and seventh-highest. (Image: ThoughtCo)<\/figcaption><\/figure>\n

According to the Las Vegas Review-Journal<\/em>, the NGC took two hours to unanimously accept the operator\u2019s revised offer after initially rejecting a $250,000 proposal by the company in August.<\/p>\n

The payment will settle the latest episode of rule violations in CGT\u2019s long history of upsetting Nevada gaming regulators.<\/p>\n

\n

The company has now paid three of the top ten-highest penalties ever imposed on gaming companies in Nevada, and that includes the number-one spot: a $5.5 million fine in 2014 to settle charges<\/a> that included illegal gambling and money laundering. <\/span><\/strong><\/p>\n<\/div>\n

CGT was fined a further $22.5 million by the federal government over the same incident.<\/span><\/p>\n

Three Strikes, Not Out<\/strong><\/h2>\n

CGT operates sports books at major Strip casinos, including The Cosmopolitan, The Hard Rock, The Palms, The Tropicana and The Venetian. This was the third time the company had been hauled in front of Nevada regulators in five years. The\u00a0NGC had made it clear that this could be a case of three strikes and you\u2019re out and was prepared to make CGT sweat.<\/p>\n

Its most recent infractions include accepting bets from outside the state on its Nevada-only mobile sports betting app, taking wagers after events had finished, making incorrect payouts to 1,483 customers, and \u201cmisconfiguring\u201d a satellite sports betting station for a Super Bowl party at an unnamed Las Vegas casino.<\/strong><\/p>\n

The regulator broke with protocol in August when it rejected the $250,000 settlement that had been recommended for approval by the Nevada Gaming Control Board (NGCB).<\/p>\n

It was the first time in 10 years that the NGC had rejected an NGCB recommendation in a disciplinary matter.<\/p>\n

Appetites Satisfied <\/strong><\/h2>\n

In doing so, NGC Chairman Tony Alamo said his comfort level with CGT was \u201czero\u201d and he had \u201czero appetite to move forward with this settlement.\u201d<\/p>\n

Two million dollars helped Alamo regain his appetite.<\/p>\n

Under the new settlement, CGT has agreed to hire a corporate social responsibility officer, who will report to the CEO. The NGCB has also recommended that the company scrap \u201cevery component\u201d of its wagering technology and partner with a third-party provider within the next six months.<\/strong><\/span><\/p>\n

Of the $2 million payment, $1.75 million will go to the NGC and $250,000 to the Nevada Council on Problem Gambling.<\/p>\n

\u201cWe are satisfied with the resolution agreed to today by the commission,\u201d CGT CEO Parikshat Khanna said in an official statement.<\/p>\n

\u201cWe remain committed to the Nevada sports book business and the long-term partnerships we have established with some of the finest resort operators in the world. Additionally, we look forward to the growth prospects of the industry nationwide,\u201d Khanna added.<\/p>\n","protected":false},"excerpt":{"rendered":"

Nevada sports book operator CG Technology — formerly Cantor Gaming — breathed a sigh of relief on Thursday when the Nevada Gaming Commission (NGC) accepted the company\u2019s offer of $2 million to settle serious compliance failures but left its gaming license intact. According to the Las Vegas Review-Journal, the NGC took two hours to unanimously […]<\/p>\n","protected":false},"author":36,"featured_media":93010,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[21,13592,1074,16693],"tags":[],"acf":[],"yoast_head":"\nCG Technology Swerves License Revocation With $2 Million Fine<\/title>\n<meta name=\"description\" content=\"CG Technology survives disciplinary procedures with its license intact after it agrees to pay $2 million to the Nevada Gaming Commission and the Nevada Council on Problem Gambling.\" \/>\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 Swerves License Revocation With $2 Million Fine\" \/>\n<meta property=\"og:description\" content=\"CG Technology survives disciplinary procedures with its license intact after it agrees to pay $2 million to the Nevada Gaming Commission and the Nevada Council on Problem Gambling.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/cg-technology-swerves-license-revocation-with-2-million-fine\/\" \/>\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=\"2018-11-19T23:46:41+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2018-11-20T00:10:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/11\/odds.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\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=\"3 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-swerves-license-revocation-with-2-million-fine\/\",\"url\":\"https:\/\/www.casino.org\/news\/cg-technology-swerves-license-revocation-with-2-million-fine\/\",\"name\":\"CG Technology Swerves License Revocation With $2 Million Fine\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/cg-technology-swerves-license-revocation-with-2-million-fine\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/cg-technology-swerves-license-revocation-with-2-million-fine\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/11\/odds.png\",\"datePublished\":\"2018-11-19T23:46:41+00:00\",\"dateModified\":\"2018-11-20T00:10:40+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/58769b72851c8cf117fb58ca150ebf8b\"},\"description\":\"CG Technology survives disciplinary procedures with its license intact after it agrees to pay $2 million to the Nevada Gaming Commission and the Nevada Council on Problem Gambling.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/cg-technology-swerves-license-revocation-with-2-million-fine\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/cg-technology-swerves-license-revocation-with-2-million-fine\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/cg-technology-swerves-license-revocation-with-2-million-fine\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/11\/odds.png\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/11\/odds.png\",\"width\":1200,\"height\":800,\"caption\":\"What were the odds of that? 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