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SOURCE CG Technology
--CGT, Formerly Cantor Gaming, is Positioned for Further Domestic and International Growth --
LAS VEGAS, Jan. 6, 2014 /PRNewswire/ -- Cantor Gaming, a preeminent gaming technology company providing innovative technological products serving the worldwide gaming industry, as well as race and sports book technology and operations, announced today it is changing its name to CG Technology ("CGT" or "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.
CG Technology said its new identity represents its commitment to develop and deliver best-in-class technology products and services for the gaming industry. CGT has experienced tremendous growth since beginning operations in Las Vegas in 2009. Its business has doubled over the last two years, and the Company estimates it now has over 30% of the Nevada sports wagering market and processes over 50% of Nevada technology-based wagers. As CGT continues to significantly grow and expand, it intends to seek a public offering in the future.
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 a premier position in the gaming technology marketplace. Cantor Ventures said CGT's innovative market leadership and accomplishments have been exceptional, and that it expects CGT will continue to build upon and accelerate its performance as one of the world's most outstanding gaming technology companies.
CGT provides private networks, systems, operations, management services, system licensing, and hardware and software design and development. In addition, the Company develops casino games with web hosting platforms for casinos. It is also a leader in providing comprehensive account-based systems for race and sports books, mobile gaming technology for casino-style games, and mobile sports wagering technology in the state of Nevada and internationally via Android™ and Apple® compatible applications.
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