Colorado gaming regulators said they suspended the license of Millennium Gaming Inc. after its president was indicted on seven felony counts.

The state gaming division also suspended the individual gaming license of Millennium President Todd Seymour after a Jefferson County grand jury indicted him in February for allegedly making false and misleading statements to investors, failing to disclose lawsuits on gaming license applications, and failing to provide bank statements to regulators.

Seymour, reached by telephone, said his company has hired an attorney. "We think we’re being falsely accused and that’s about all I can really say at this point in time," Seymour said when asked to comment about the suspensions.

Lakewood-based Millennium makes and distributes retrofitted slot machines.

A hearing on the summary suspensions has not yet been scheduled.

In other action, the gaming commission said Fitzgeralds Casino in Black Hawk agreed to pay a $500 fine for operating a slot machine with revoked software.