- Associated Press - Thursday, February 3, 2011

LAS VEGAS | Police have arrested a 29-year-old Las Vegas man in the brazen armed robbery of $1.5 million in casino chips from the posh Bellagio resort on the Las Vegas Strip.

Las Vegas police said Anthony M. Carleo was the motorcycle-helmeted bandit who waved a gun, grabbed high-value casino chips and made off on a motorcycle before dawn Dec. 14. No shots were fired and no one was hurt. Police said then that they thought the same man robbed the Suncoast casino in northwest Las Vegas early Dec. 8.

Mr. Carleo was arrested at the Bellagio as part of an undercover police investigation, a person familiar with the investigation told the Associated Press. The person declined to be named because he was not authorized to publicly give details about the case.

Police spokesman Bill Cassell refused to give further details on the arrest besides saying it happened in Las Vegas.

Bail was set at $15,000 for Mr. Carleo on felony armed robbery and burglary charges. Court spokeswoman Mary Ann Price said Mr. Carleo would make an initial appearance in court on Monday morning. Mr. Carleo will not be required to appear when a judge reviews the charges on Friday, Ms. Price said.

Jail records showed Mr. Carleo in custody under another name — Anthony M. Assad. It was not immediately clear whether he had an attorney.

The Las Vegas Review-Journal reports that Mr. Carleo is the son of Las Vegas Municipal Court Judge George Assad.

Police said Mr. Carleo also was suspected of trafficking a controlled substance, but booking records did not reflect that charge.

Stealing $1.5 million in chips isn’t like stealing $1.5 million, specialists and police pointed out at the time of the robbery. Chips are unique to casino properties and are generally not interchangeable, although state regulations let casino companies redeem sister properties’ chips with some restrictions.

After the heist, Bellagio announced plans to discontinue the casino’s $25,000 chips in April, setting a deadline for the thief to try to use them. Police weren’t saying Thursday whether the suspect tried to redeem the chips — which ranged from $100 to $25,000 — before he was arrested.

Bellagio officials wouldn’t say whether MGM Resorts International properties are among Las Vegas casinos that embed radio frequency devices inside the tokens.