Cantor Gaming, a leading supplier of sports book systems and operations and mobile technology to the gaming industry, has changed its name and corporate identity. The company is now CG Technology.
According to a statement from the company, the new identity “reflects CG Technology’s position as one of the world’s leaders in mobile casino gaming technology and race and sports book technology products and services.”
The new identity represents a commitment to develop and deliver best-in-class technology products and services for the gaming industry, the company said.
The former Cantor Gaming has experienced explosive growth since 2009, when it began operations in Las Vegas as a provider of sports book systems that featured in-game wagers and a variety of propositions while events are in progress. Cantor also introduced mobile devices to Las Vegas sports books, which have allowed patrons to wager on events from any approved location within a resort.
The company now claims more than 30 percent of the Nevada sports wagering market and more than 40 percent of Nevada technology-based wagers.
Cantor Ventures, the venture capital arm of Cantor Fitzgerald, L.P., has been CGT’s lead venture capital lender. Cantor Ventures, which has no equity interest in CGT, has enabled CGT to develop its strong position in the gaming technology marketplace.
CGT provides private networks, systems, operations, management services, system licensing, and hardware and software design and development.
Other news for the newly named company came last month, when the company announced an agreement with the Nevada Gaming Control Board to settle a complaint filed by the agency involving President and CEO Lee Amaitis. The complained alleged that Amaitis failed to supervise Michael Colbert, the company’s former VP of race and sports risk management, sufficiently to prevent Colbert’s illegal sports gambling activities. In the agreement, CGT agreed to pay $5.5 million, the largest settlement ever agreed to by a Nevada gaming company.
“Matters in the complaint stem from the illegal activity of a former employee,” CG Technology said in a statement. “The company conducted its own extensive internal analysis of Colbert’s actions and of the company’s systems, operations and procedures, and has implemented additional compliance processes.”