James Fortunato, the former manager of the Cosmopolitan Restaurant in Allentown, entered a guilty plea to one count of theft in Lehigh County Court Tuesday.
The Coplay man's trial was scheduled to begin Tuesday. A charge of receiving stolen property was withdrawn.
Sentencing is scheduled for 9:30 a.m. Dec. 16.
In January, Fortunato was charged with stealing more than $163,000 while on the job.
Lehigh County District Attorney Jim Martin said Fortunato was working as the general manager of the Cosmopolitan when he made a number of unauthorized purchases using the restaurant's bank accounts.
Investigators said Fortunato spent the money on personal items, dinner cruises and trips to a strip club.