Troubled Nevada sports book operator fined again

Published 07/29 2016 02:47PM

Updated 07/29 2016 02:47PM

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Nevada regulators say they'll let one of the state's largest sports book operators stay in business after years of underpaying winning bets because the Las Vegas company has ousted its CEO.

The Nevada Gaming Commission on Thursday approved a $1.5 million settlement with CG Technology over miscalculations on its computerized betting system that date back to 2011.

Commissioners said they were disappointment that the company, previously known as Cantor Gaming, that pioneered mobile gambling would be involved in a second major scandal in recent years.

CG Technology accepted the settlement and said it has paid back most of the gamblers.

In 2014, CG Technology paid a $5.5 million fine - the largest such penalty in state history  - for failing to adequately supervise its former sports book director, who was involved in a nationwide sports betting ring.

 

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