Cantor Gaming changing its name to CG Technology

Gambling technology and sports betting company Cantor Gaming is getting a new name.

The company announced Monday that it will change its name to CG Technology, and will pursue an initial public offering at some point.

The company says the new name represents its commitment to developing excellent technology for the gambling industry.

Cantor Gaming is Nevada's largest sports book operator, and was the first company licensed by state regulators to manufacture and operate a mobile gambling system. The company provides gambling technology to Celebrity Cruises, and has also done business in the Bahamas.

In a statement Monday, CG Technology said its business has doubled during the last two years.