Mike Colbert, the former Cantor Gaming sportsbook executive, has pleaded guilty to a single felony charge of conspiracy in federal court, after having initial charges filed by the Queens County, N.Y. district attorney dismissed.
The Las Vegas Review-Journal first reported the guilty plea Wednesday night.
Colbert is scheduled to be sentenced Dec. 9.
Colbert was the Vice President of Risk at Cantor Gaming before being indicted last October on charges of enterprise corruption, promoting gaming in the first degree and money laundering in the second degree.
He pleaded not guilty to all charges in November. The state’s case was dismissed, and the record has been sealed, a New York court official confirmed Tuesday.
The case was referred to the New York U.S. Attorney’s office on Aug. 21.
Court documents state Colbert sought to obtain bets that would cancel out large wagers and knowingly allowed runners from an alleged illegal gambling operation out of Queens, N.Y.—known as the “Jersey Boys”—to place bets.
The use of runners to place bets for another person in exchange for compensation is illegal in Nevada.
Colbert declined comment when reached through social media Tuesday, before the guilty plea was reported.
Colbert was one of 25 individuals named in a 259-page indictment out of New York last October. He had been working with Cantor Gaming for four years and in the sports betting industry in Las Vegas for 10. The indictment alleged that on July 19, 2011, Colbert arranged a $100,000 transfer of gambling proceeds with co-defendant Gadoon Kyrollos.
Colbert recently resurfaced on Las Vegas radio, appearing on “First Preview” on ESPN 1100 before the football season.
Nevada Gaming Control told Betting Talk in late August that its investigation into Colbert and Cantor Gaming was ongoing. The investigation was launched last July after Gaming Control was contacted by the New York District Attorney’s office about Colbert’s alleged involvement in an illegal gambling operation that spanned from the East Coast to Las Vegas.
In August, then-NGC Chief of Enforcement Jerry Markling told Betting Talk that he hoped to have the investigation wrapped up by the end of the year.
“I think everyone involved would like to see a resolution happen as quickly as possible,” he said. “That’s certainly our desire. At the same time, we want to make sure we conduct a thorough investigation, touch on all the bases instead of miss something. There are still other agencies involved, so we have to coordinate with them.”
Nevada Gaming Control’s current Chief of Enforcement Karl Bennison confirmed Tuesday that the investigation is still ongoing.