Borgata Casino Seizes Phil Ivey’s 2019 World Series of Poker Earnings
Phil Ivey cashed four occasions in the 2019 World Series of Poker for a total of $133,398, such as an eighth-place end in the $50,000 Poker Players Championship for $124,410.
Unbeknownst to Ivey, he was essentially playing his summer program for a horse to get the Borgata.
Ivey’s six-figure money from among the most prestigious poker tournaments of this year was confiscated from the US Marshals Service as payment towards the greater than $10 million Ivey dominates the Atlantic City Casino.
The 10-time bracelet winner, together with his spouse ‘Kelly’ Cheng Yin Sun, conquer Borgata from $9.6 million at a high-stakes baccarat session at 2012. 2 decades after, the casino recognized the duo was utilizing a capacity known as ‘edge sorting,’ where they’d have the ability to spot flaws on the rear of cards to acquire a little advantage.
The most profitable casino in the country sued the professional poker player for about $15.5 million, a number that contained countless thousands from comps and exactly what they had been expected to win using a regular house improvement.
The judge ruled in favour of Borgata and purchased Ivey to pay $10.1 million back into the casino, a few that included a $500,000-win in the craps table after that evening.
Borgata had difficulty getting their cash from the New Jersey native. Immediately after the judgment, the casino may just find an empty Wells Fargo accounts in Ivey’s title. Borgata’s legal team claimed that Ivey moved the winnings into a Mexican bank accounts.
In October 2018, the New Jersey casino filed a motion to proceed after Ivey’s shares out of New Jersey. The courts agreed with Borgata along with a federal judge permitted Borgata to monitor Ivey’s shares in Nevada.
Before the 2019 WSOP, Borgata’s legal team was not able to catch some of those owed money.
While Ivey was operating deep from the Poker Players Championship, Borgata attorney Jeremy Klausner served note to WSOP management they got a writ of execution against Ivey due to their money plus $214,518 in accrued interest. It wasn’t confirmed that the WSOP forked over the money until last week.
The latest development in the saga effectively ends the chances that the poker world will see Ivey play a poker tournament in the United States any time soon. He would need to win about $10 million on U.S. soil before he would start leaving the casino with any money in his own pocket.
With the ability to play and win in the biggest cash games on the planet, Ivey’s U.S. tournament schedule was already sparse. Before his legal battle with Borgata, he was rarely playing any American tournaments outside of the WSOP. The last time he cashed in an American tournament that wasn’t the WSOP was his ninth-place end from the 2013 NBC Heads-Up Championship.
There are just 13 players with slightly $10 million in earnings in the WSOP alone. All of these have won the major event or possess a top-two end at the $1,000,000 Big One For One Drop. Phil Hellmuth is the only participant of this team that wasn’t a main event champion after the Moneymaker boom.
With his 67 cashes and 10 titles at the WSOP, Ivey’s career earnings at the world’s biggest poker festival is still just $6.82 million. He has more than $26 million in overall tournament earnings. In a 2011 court filing stemming from his divorce, it was revealed that during online poker’s boom pre-Black Friday, Ivey was receiving about $920,000 a month from Full Tilt Poker.