That's an interesting quote, for at least two reasons. First, it was triggered by Einstein's revulsion at contemplating quantum theory. He thought a better, more elegant particle theory could be devised that would be more in tune with his notions of how the universe's laws should work. So far, nobody has come up with one.
Second, when Einstein mentions God, he doesn't mean what most folks think of as God:
I believe in Spinoza's God who reveals himself in the orderly harmony of what exists, not in a God who concerns himself with fates and actions of human beings.
I do not believe in immortality of the individual, and I consider ethics to be an exclusively human concern with no superhuman authority behind it.
I cannot imagine a God who rewards and punishes the objects of his creation, whose purposes are modeled after our own -- a God, in short, who is but a reflection of human frailty. Neither can I believe that the individual survives the death of his body, although feeble souls harbor such thoughts through fear or ridiculous egotisms.
So, you could say Einstein was wrong about God on both counts!