CG Technology Reaches $2 Million Settlement With Nevada Regulator
Non-compliance with regulations for the third time comes at a hefty cost
Four strikes and you could be out was the warning given to Nevada gambling group CG Technology by the Nevada Gaming Commission Thursday after it considered a third case of non-compliance with regulations by the company.
Contraventions of the regulations by CGT included permitting out-of-state residents to place wagers with Nevada sportsbooks via its mobile betting app and knowingly failing to fix the problems.
On Thursday the Commission finally accepted (with that warning regarding licence revocation) a revised $2 million settlement proposal by CGT. Earlier the Commission rejected an original $250,000 settlement proposed by CGT to the Nevada Gaming Control Board in August (see previous InfoPowa report).
In insisting on a higher penalty, the Commission took into account that this was the third time that CGT had been found wanting in serious regulatory terms. InfoPowa readers will recall that the company also had an expensive run-in with federal authorities in 2016 which it settled for $22.5 million to escape illegal interstate wagering accusations.
Following the Commission’s acceptance of the $2 million settlement, part of which will go to responsible gambling causes, and a three month deadline to sort out its technology problems, CGT issued a statement assuring interested parties that it remains committed to the Nevada sportsbook business and the long-term partnerships it has established.
IGT Playshot Achieves Regulatory Approval In Nevada
Now powers sports wagering in Nevada, New Jersey, Mississippi, and West Virginia
International Game Technologies’ PlayShot Retail and Mobile Sports Betting Solution has completed the final stage of Nevada Regulatory Approval.
“Gaining full regulatory approval in Nevada for IGT’s integrated PlayShot sports betting solution enables our customers throughout the State to benefit from its seamless integration of retail and mobile betting technologies in a single solution,” Enrico Drago, IGT Senior Vice President PlayDigital, said.
“Our customers throughout the U.S. recognize the power of the PlayShot technology, and view the hub-and-spoke design of the scalable platform as an important advantage for pursuing sports betting business opportunities in multiple states.”
IGT’s PlayShot sports betting technology is now powering sports wagers in four U.S. states including Nevada, New Jersey, Mississippi, and West Virginia.