Report: CG Technology Facing Potential $250,000 Fine
Kirby Lee-USA TODAY Sports Pictured: General aerial view of the Las Vegas strip
- Nevada sportsbook operator CG Technology could be fined $250,000 by the Nevada Gaming Commission after admitting to multiple charges.
- The charges include accepting wagers from outside of Nevada and after games had been completed.
- CG Technology is also accused of paying out incorrect amounts to 1,483 bettors.
Editor’s Note: This article has been updated following changes to details included in the Las Vegas-Review Journal’s original story.
According to a report by Richard N. Velotta of the Las Vegas-Review Journal, Nevada sportsbook operator CG Technology could be facing a fine of $250,000.
CG Technology currently operates sportsbooks inside the Cosmopolitan, Venetian, Palms, Tropicana, M Resort, Palms, Hard Rock and Silverton and, according to the article, admitted to a myriad of charges:
“CG Technologies was accused of taking wagers from outside the state, taking bets after events had concluded, making incorrect payouts to 1,483 bettors and misconfiguring a satellite sportsbook betting station for the 2018 Super Bowl.”
CG Technology is no stranger to run-ins with regulators, having agreed to pay a $22.5 million fine levied by various government agencies for the company’s role in illegal gambling and money laundering in 2016.
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In that case, CG Technology was accused of “laying off” some of its one-sided betting action by illegally betting the opposite sides of the games that posed the biggest liabilities — and therefore losses — for the company.
This is a developing story that we’ll continue to cover as more news regarding CG Technology’s penalties becomes available.