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Chris Sieroty

Nevada Gaming Control Board inquiry into Colbert, Cantor Gaming continues

21 May 2013

LAS VEGAS -- The Nevada State Gaming Control Board Gaming Commission confirmed Monday that it is investigating Cantor Gaming and the Las Vegas-based company’s former sports book director, Mike Colbert.

The investigation is a result of an October indictment that charged Colbert and 24 other people in Las Vegas and New York. Colbert was arrested with seven other people in Southern Nevada on warrants stemming from an 18-month investigation into illegal bookmaking and money laundering.

Cantor Gaming declined to comment. The gaming company operates eight race and sports books, poker rooms, and online and mobile sports betting and casino game apps in Nevada.

“We are not done,” said A.G. Burnett, chairman of the Gaming Control Board. “We are still in investigative status.”

Nevada gaming regulators were first contacted about Colbert’s alleged involvement by the Queens County District Attorney’s Office in New York in July 2011. At the time of his arrest, he was based at Cantor Gaming’s race and sports book at M Resort in Las Vegas.

Colbert faces enterprise corruption, money laundering and conspiracy charges. He pleaded not guilty in November and is free on bond. His next pretrial hearing is scheduled for June 18 in New York, according to the district attorney’s office.

Michael Cristalli, a Las Vegas-based lawyer who represents Colbert, was unavailable for comment. If convicted, Colbert faces up to 25 years in prison.

A 259-page indictment alleges Colbert arranged for the transfer of $100,000 in gambling proceeds between Las Vegas and New York in July 2011. He spoke with co-defendant Gadoon Kyrollos using a telephone number with a 718 area code, a New York City area code, to arrange the transfer, authorities allege.

Colbert worked for Cantor Gaming for four years and in sports betting in Las Vegas for a decade. He is accused of being a “money collector/agent” who helped build a clientele of gamblers and collected or paid out money owed to them.