Oklahoma State built its lead to 63-53 with 7:36 remaining. Colorado chipped away and brought the deficit down to four points twice in the final minute, but couldn't get any closer.
Booker had 13 first-half points for Colorado, which trailed 32-26 at halftime. The Cowboys took the lead for good with 1:37 left in the opening half.
"They shot 62 percent in the second half and we did not have enough to beat the No. 7 team in the nation," said Scott, who was 10 of 13 from the free-throw line. "We didn't play our best game, but we were there with them. They set a lot of good screens and they have a lot of players."
The teams last met in January 2011 with the Buffaloes winning 75-71. The last time the teams met on a neutral court was in March 2005 at the Big 12 Conference Tournament in Kansas City.
Colorado hasn't beaten a top-10 team on a neutral floor since 1990 at the Big Eight Tournament in Kansas City.
The inaugural MGM Grand Showcase also featured New Mexico's win over Marquette in Saturday's first game.