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Race and sports book director Mike Colbert poses with a wireless tablet at the M Resort on Wednesday, Aug. 4, 2010. Customers with accounts can use the tablet to place bets without standing in line. The sports book also has “In-Running” wagering during games.
Published Wednesday, Oct. 24, 2012 | 3:20 p.m.
Updated Wednesday, Oct. 24, 2012 | 4:09 p.m.
Michael Colbert, the race and sports director for Cantor Gaming and sports book manager at the M Resort, was arrested Wednesday on a fugitive warrant from out of state, according to records from the Clark County Detention Center.
Colbert, 32, was booked into jail Wednesday. A hearing is scheduled for 7:30 a.m. Monday.
A Nevada gambling regulator said a total of eight Las Vegas area residents have been arrested in a New York City police investigation of illegal bookmaking and money laundering.
Gaming Control Board enforcement chief Jerry Markling said beside Colbert, the seven others are not involved with Cantor Gaming. A Cantor spokesman said the case doesn't involve the company. A company spokeswoman said the company had no comment on Colbert's arrest.
Gaming officials arrested Colbert at 3:30 a.m. Wednesday near a tavern near Craig Road and Rancho Drive, according to Las Vegas Metro Police records. A warrant for Colbert’s arrest had been issued Monday. Police said Colbert was arrested without incident.
Records show Colbert and six others are jailed in Las Vegas. Markling said one person was taken to an area hospital as a precaution.
Each faces enterprise corruption, money laundering and conspiracy charges in New York, Markling said.
Colbert has been the public face of Cantor Gaming since the company arrived to Las Vegas more than three years ago. He served as the sports book director at the M Resort, Cantor’s first property, from the day it opened in March 2009.
The M sports book found immediate, unprecedented success under Colbert’s watch. By offering the highest limits in town and an expanded betting menu that included Las Vegas’ first-ever in-running wagering, it became ground zero for the biggest bettors in Las Vegas.
Cantor grew from there and currently operates sports books at six other casinos — the Venetian, Palazzo, Palms, Cosmopolitan, Hard Rock and Tropicana. Colbert stayed in charged of posting and adjusting the betting lines for all of Cantor’s empire.
Local and national media have featured Colbert’s analysis on games and the betting market regularly for the last three years.
he will get off. he didn't do anything anyone else wouldn't do in that same postion. just wait as see.
Yikes... Not good when you are trying to roll out into new jurisdictions.
Rut Ro Ragie, not a smooth move
The GCB should suspend any new licensing for Cantor Gaming , until a thorough investigation is completed, After all, the man moved the numbers for their entire network.
Remember, though, that NY is currently engaged in a nasty fight over expansion of gambling to racetracks [racinos], expansion overall, competition from tribes, etc. etc. It has one of the most notoriously corrupt Legislatures in the US. This could also be payback for backing or paying off the wrong people....I'm sorry, I should have said contributing to the campaigns or favored charities of political figures!
Mike Colbert is the smartest and hardest working man in this industry. He has been an integral part of changing the sports booking industry forever. This is a witch hunt and unknown prosecutors trying to get their fifteen minuets of fame. He worked his way to the top with dedication and passion to the industry. As this previous article stated had Mike not been a high profile figure we would have never heard about this ALLEDGED victimless crime! I have no doubt these charges will be proven false! Mike is a family man with integrity and morals- actually one of the best people that have ever been in my company. It is a shame that our tax dollars aren't being used to prosecute rapes, murders, etc. instead the focus is on trying to smear good people.
Yeah Poohbear your endorsement is just a bit over the top. One more thing, there are no victimless crimes where money is involved or anywhere else.
It says in the story that they arrested "agents". That is like a casino host that finds gamblers for the company and gets a commission for their play. You guys sound like idiots saying things like Vegas sportsbooks are still run by the NY "boys in the back rooms". Did you guys just get done watching "Casino" or something, it's not the 1970's Vegas anymore. He has a very sought after position, I really hope Cantor sticks by their man and doesn't just cut ties. In the US you're presumed innocent until proven guilty.
Poohbear you do realize that this great family man with morals and the best guy you ever had for your company is taking money out of your pocket while posing as an agent for pinnacle right? This great guy could have these players gambling with you instead of off shore with commission on losses..still a great guy?
Groovy!!
Comment removed by moderator. Name Calling
Oh, those New Yorkers. They are so cute with their "illegal bookmaking" and whatnot.
So much for their VIP Parties.
guess the parent company was in the World Trade center during 911 ... a vonage connection to the Caribbean or Britain is all you need to place bets there or a satellite phone
Mike Colbert is the smartest and hardest working man in this industry.
POOHBEAR I think that perhaps Michael Gaughan might be a better person to label as the smartest and hardest worker in this industry.
You should seriously not comment on people or matters in which you know nothing about! It's actually embarrassing for someone with no intelligence and ignorance to even waste people's time with your nonsense. Mike Colbert is being targeted because of his high profile status- " this whole business smells and you know it" what do you know anout anything? I have zero to do with anything in the gaming industry but I know for a fact that this wonder kid is a genius and worked his way up to the top a place which I'm sure you would no nothing about. Mike Colbert is an amazing friend and father. Spare the rest of us with your juevinille " stinky" comments. Had Mike not been a celebrity this case would have got no coverage! Incase you forgot in this country " innocent until proven guilty"! Cantor gaming would be nothing without Mike- I am more interested in my tax dollars being used for criminals who get away everyday instead of headlines trying to smear years of hardwork and dedication. Mike we are all behind you!
Lol who is Michael Gaughan? Never heard of him....... And my comments are far from over the top! It is easy for anyone to jump on the band wagon of breaking news and condemning a person you know nothing about! " victimless crime" is actually quoted in several articles. It is sad that people have nothing better to do with their time than wish badly for someone else. No one is perfect and mistakes are made and he is innocent until proven guilty! I will stand by every comment I have made because I know the truth! Mikey will come out on top like he always does!
Jriveria58 has the only profound comment on this page! Thank you for reminding everyone that he is innocent until proven otherwise.