Regulators OK $1.5M settlement with CG Technology

20,000 wagers.

CG admitted the company’s software miscalculated payouts, and that they failed to notify patrons and the board of the miscalculations in a timely manner, but they denied not cooperating in the Control Board’s investigation, admitting there was sufficient evidence to warrant a settlement.

CG Technology also overpaid about 11,000 bets a total of $100,000 because of a computer software glitch that the company didn’t fix for years. The company never notified gamblers of the problem in paying out some parlays.

The company began operating a computerized bookmaking system known as Cantor Sports Book for its mobile sports wagering in August 2011, the complaint said, and the company miscalculated winning parlay bets for several years.

CG Technology manages race and sports books at the M Resort, the Hard Rock Hotel, Tropicana, The Cosmopolitan of Las Vegas, The Venetian, the Palms and the Silverton. The casinos lease space to CG Technology and have management agreements to split profits but are not subject to disciplinary action.

The Review-Journal is owned by the family of Sheldon Adelson, chairman and CEO of Las Vegas Sands Corp., which operates The Venetian. Contact Sean Whaley at swhaley@reviewjournal.com or 775-461-3820. Find him on Twitter: @seanw801

RONDA CHURCHILL/ LAS VEGAS REVIEW-JOURNAL Lee Amaitis, president and CEO of CG Gaming, seen at a Nevada Gaming Commission hearing at the Grant Sawyer Building in 2014, is being forced to resign as part of a settlement with regulators to resolve a complaint over underpayments to gamblers.