Cantor to pay $5.5M fine for illegal betting

Set Text Size SmallSet Text Size MediumSet Text Size LargeSet Text Size X-Large
Share
Updated: 1/13 6:54 pm

LAS VEGAS (AP) — CG Technology, formerly Cantor Gaming, has agreed to pay Nevada gambling regulators $5.5 million to settle a complaint regarding illegal sports betting.

The settlement, announced on Monday, will be the largest in state history.

Earlier this month, the Nevada Gaming Control Board filed an 18-count complaint against the company. Regulators said Cantor failed to adequately supervise its former sports book director, who was involved in a nationwide illegal sports betting ring.

Michael Colbert, formerly vice president of race and sports risk management, was arrested in 2012 and pleaded guilty to participating in a sports betting conspiracy.

Regulators said the company's lack of supervision over Colbert violated state gambling rules.

©2014 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Share
0 Comment(s)
Comments: Show | Hide

Here are the most recent story comments.View All

No comments yet!
NEWSCASTS ON DEMAND

What's On

All content © Copyright 2013 Intermountain West Communications Company. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms of Service.
You may also view our Sitemap

Inergize Digital This site is hosted and managed by Inergize Digital.
Mobile advertising for this site is available on Local Ad Buy.