Cantor Gaming becomes CG Technology
Gaming solutions firm Cantor Gaming has confirmed that it has rebranded as CG Technology (CGT) in order to reflect its focus on mobile casino gaming technology and race and sportsbook products and services.
The company said that the new identity would also represent its commitment to developing and delivering ‘best-in-class’ technology products and services to the gaming industry.
In addition, the firm said it intends to follow up on recent growth and continue to expand by seeking a public offering in the future.
CGT claims business has doubled over the last two years, estimating that it has over 30% of the Nevada sports wagering market and processes more than 50% of the US state’s technology-based wagers.
Meanwhile, CGT has also reached a tentative agreement with with the Nevada Gaming Control Board for a monetary amount to be paid in full settlement of the regulatory complaint the board filed today (Tuesday).
In a statement, CGT said that the matters of the complaint stem from the illegal activity of former employee Michael Colbert, who pled guilty to charges following his arrest in 2012.
The firm said that it conducted its own analysis of Colbert’s actions and of its own systems, operations and procedures, and has since implemented “additional industry-leading compliance processes”.
CGT expects to finalise the matter with the board soon.