Star second-rower Preston will cop three weeks on the sidelines with an early guilty plea for a grade-two crusher tackle on Gold Coast captain Tino Fa'asuamaleaui late in the Bulldogs' 38-18 win at Magic Round.
The Bulldogs are already missing suspended forwards Sitili Tupouniua and Josh Curran for their away clash with Canberra on Saturday.
The Storm lost 20-18 to the Raiders in golden point in a controversial Sunday night finish to Magic Round.
In regular time, they led 18-12 and fullback Ryan Papenhuyzen kicked a field goal in the 75th minute that would have taken them to 19-12.
On review, the Bunker found an elbow to the head of Raiders captain Joseph Topine by Storm lock Loiero in a previous play when Melbourne had the ball. Papenhuyzen's one-pointer was overturned.
The Raiders then levelled through a scintillating try to fullback Kaeo Weekes, but the Storm were in position for a field goal in golden point when prop Utoikamanu was pinged and sin-binned for stomping on hooker Tom Starling in the play-the-ball.
"The game was in the balance and ... I let the team down," Utoikamanu said.
"I was trying to play the ball and move Tom Starling out of the way. It wasn't the right play at the time, especially when you have been warned from the refs about that sort of stuff."
Raiders skipper Jamal Fogarty then landed the winning penalty after Loiero was ruled to have taken Hudson Young high.
While coach Craig Bellamy was scathing post-match of his side's lack of discipline, he also suggested the officiating did his side no favours when asked if the Storm were "hard done by"."You can say that if you like," Bellamy replied.
That sentiment could well be enhanced on Monday after both Loiero and Utoikamanu were cleared by the match review committee to play in the home game against Wests Tigers on Sunday.
Papenhuyzen spoke to ABC Radio Sport after the match, and his assessment of the Utoikamanu incident proved prophetic.
"We are playing rugby league," he said.
"You are trying to get a quick play-the-ball. It is a tough thing to swallow. He is going to be on report for that, but watch him get off it."