CG Technology up for auction?

Twitter and industry media have been alight in reaction to a post from Las Vegas gaming analyst, Todd Fuhrman, who claims that Las Vegas gaming tech provider CG Technology(previously Cantor Gaming) is due to go on auction mid-April 2017.

Fuhrman’s tweet reads:

“Word on the street is April 15 all of @CGTechnology_ will be auctioned off to the highest bidder; starting price for assets & license $15M and there are multiple operators interested including an existing Vegas presence, Irish group, and 3rd European entity.”

Readers will recall CG Technology’s censure and the implementation of a hefty penalty by the Nevada Gaming Control Board (NGCB) back in January 2014 over it failing to identify its vice president of race and sports risk management Michael Colbert’s involvement in an illegal messenger betting operation (see previous reports). The company rebranded from Cantor Gaming shortly afterwards.

More recently CG Technology was the subject of a formal complaint laid by the Nevada Gaming Control Board (NGCB) for allegedly underpaying customers on over 20,000 winning bets totalling $700 000.

The NGCB said its investigation has revealed incorrect payments due to software issues which were known to the company but only after the authority initiated action did CG Technology begin the process of identifying patrons affected.

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