Tag Archives: Lee Amaitis
- CEO’s ouster convinces Nevada regulator to accept CG Technology’s $1.5M settlement
July 29, 2016
Sportsbook provider CG Technology (CGT) is staying in business after all. The Nevada Gaming Commission (NGC) announced on Thursday that it has already approved a $1.5 million settlement with the troubled sportsbook company that was caught ignoring software glitches that underpaid bettors around $700,000. If you recall, the Nevada Gaming...
- CG Technology underpaying scandal costs CEO Amaitis his job, company $1.5m
July 21, 2016
Nevada sportsbook provider CG Technology (CGT) has agreed to pay a $1.5m fine and say goodbye to its CEO after being caught ignoring software glitches that underpaid bettors around $700k. In May, the Nevada Gaming Control Board (NGCB) filed a formal complaint against CGT, accusing it of (a) failing to...
- Nevada sportsbooks seek repeal of federal tax on sports betting handle
August 26, 2014
A Nevada politician has proposed federal legislation that would repeal a tax on sports betting handle. Rep. Dina Titus, a Democrat, has written a three-paragraph bill that seeks to eliminate the 0.0025% tax the Internal Revenue Service imposes on sports betting wagers. Based on the $3.6b in wagers handled by...
- CG Tech fine approved; Ting gets two years; baccarat cheat gets 47 months
January 24, 2014
Edwin Ting (pictured) has become the latest defendant to be sentenced for his role in the Taiwanchik-Trincher Organization. In September, Ting pled guilty to running high-stakes illegal poker games between 2010 and April 2013, when the US Department of Justice shut down the Russian-American poker and sports betting ring. On...
- Cantor Gaming rebrands as Nevada prepares to slap company with $2m+ fine
January 8, 2014
Nevada-based sports betting operator Cantor Gaming has reportedly reached a tentative settlement with Nevada regulators, who have been investigating how much the company knew about the illegal gambling activities of former VP and risk management director Michael Colbert. Colbert was among the 25 individuals charged by federal authorities in October...
- Cantor Fitzgerald says Cantor Gaming CEO Lee Amaitis not a crook
October 4, 2013
Cantor Gaming CEO Lee Amaitis (pictured) is not the subject of a federal investigation into illegal betting activity, according to a statement issued Thursday by parent company Cantor Fitzgerald LP. The Wall Street financial services firm stated that it felt “compelled to address this irresponsible and baseless rumor” that the...
Charges dropped against Calvin Ayre, Bodog and friends
July 14, 2017
Law panel leans towards regulating gambling in India
March 20, 2017
US says North Korea culprit behind Bangladeshi bank heist
March 23, 2017