BankrollMob Poker News

jul
14

Phil Ivey Settles $10.1M Lawsuit with Borgata

Tags: Atlantic City, Borgata, edge sorting, Phil Ivey.
Posted on 14 July 2020 by "T".

Phil Ivey finally settled his lawsuit with Borgata earlier this month.

The undisclosed agreement between the two parties comes after a six-year legal battle regarding the controversial "edge sorting" technique they used in baccarat.

According to court documents filed on Thursday, July 2 in the United States Court of Appeals for the Third Circuit, the two parties reached an agreement on the $10.1 million that Phil Ivey owed the Atlantic City casino.

After an oral argument on September 17, 2019, the court referred the two parties to the court's mediation program where an agreement was reached. Naturally, the details were not disclosed to the public.

The edge sorting technique allowed Ivey and his partner Cheung Yin "Kelly" Sun to beat Borgata out of $9.6 million. When Borgata found out about the technique, they wanted to get their money back and thus filed a lawsuit.

If you need a detailed refresher on how Phil Ivey's edge-sorting case started, check out these articles:

According to gaming attorney Mac VerStandig, "It's unsurprising to see litigation settled, especially at the appellate stage where both parties have had the opportunity to air respective grievances, and the cost of going forward may outweigh what either party stands to gain. Cooler heads normally prevail sooner but it's not at all surprising to see it come to pass here."

Why did they settle?

Nobody knows if Borgata just gave up on pursuing the money or if Ivey agreed to return any of the winnings.

In his 2016 ruling, the District Court judge noted that Borgata agreed to wire Ivey's front money and winnings to a bank account in Mexico, so the casino has long known that the money left America. Still, it sought court approval to skim through Ivey's domestic bank accounts.

One possible reason for Borgata agreeing to a settlement at this point is that if it loses to Ivey on appeal, it could "potentially create a precedent that could harm parent company MGM Resorts International in future cases involving cheating or advantage casino play."

While it appears there's more downsides than upsides at this point for Borgata, the settlement doesn't seem to be very costly for Ivey.

If Ivey could've won in his appeal, the case would have continued on remand, thereby returning to the lower court for reconsideration. This would force Borgata to give back the $124,410 it had already seized from Ivey, and nothing else is guaranteed after that. Both parties would also continue shelling out attorney fees, which have been mounting all this time as the case goes on.

Even if Borgata won the case, it would have turned out to be an empty victory. Their search for Ivey's assets in New Jersey only turned up a "zero-dollar" bank account. Besides, Ivey has been keeping most of his poker-related wins outside America and away from Borgata's reach.

VerStandig said, "Borgata's case has always had serious vulnerabilities and Borgata is certainly justified in getting whatever settlement it can get and not risking those vulnerabilities on a remand."

Source:
https://www.pokernews.com/news/2020/07/phil-ivey-borgata-settlement-37591.htm
https://www.njonlinegambling.com/phil-ivey-borgata-reach-settlement

 


« Poker News   /   Comment on this news »

Related Articles:

48 comments on "Phil Ivey Settles $10.1M Lawsuit with Borgata"

Displaying only the 25 latest comments. To view all comments, please visit the forum thread:
» Phil Ivey Settles $10.1M Lawsuit with Borgata

 CALICUL22/07/2020 08:39:08 GMT
Phil Ivey moved his assets to another country (smart move) for fear of having his property confiscated and i don't know what happened to his house. He read the laws and knows what needs to be done but what is more important here we did not find out because of the secret ...
 dule-vu22/07/2020 13:30:53 GMT
Posted by maragatero:
But there was also the news that Phil Ivey was selling his house, and I thought it was related to this topic. You say they couldn't charge him anything else? If he had sold his house (publicly) to decapitalize himself and not pay his debts, he would have committed a crime. I don't think he did it that way


whatever money that he have on his bank account or that he earn in his life,they can take from him and ofcourse they would take it!in america they have special way of taking money,when you dont pay tax or when you scam somebody for money!dont know this siutation about house,but maybe he just wanted to move from their and not to have anything on his name!but they would wait him till end of life,if this deal wasnt made it!
 antonis32122/07/2020 21:28:29 GMT

He has made this deal with Borgata , unfortunatelly the details of it are no known to the public , maybe at least not untli now Smile I guess they will have both compomised , with some money to be paid by Ivey so as the casino to get them finally , and Ivey not to pay all , as this would find him uninterested to do so . This is the only possible logical final agreement they might have decided to do , I guess most money to be returned , but not all Blink
 antonis32123/07/2020 23:34:06 GMT

Ivey played very right , on the phychological aspect , this court duel with Borgata , making clear to them that they will not get their money back easily , maybe not at all all of them , despite courts' decisions against him , or some seizures of very little money from him from WSOP earnings . This determination showed Borgata he's a tough cookie to seal with , they had to make a deal , a settlement Smile
 CALICUL24/07/2020 10:52:50 GMT
I've said in the past that Phil Ivey needs to come to an agreement with Borgata and if they did, then it's good for both of us. I guess there's nothing to reveal, if they agreed with this thing. Borgata Casino he is docile and everyone has something to gain.
 antonis32124/07/2020 18:33:52 GMT
Ivey showed he's a very good player generally in life , not only in poker . He played them like a game of high stakes poker , with all the intense aggressiveness and phychological tricks and sneacky/tricky moves . He bluffed them ,he folded their demands to pay him , and raised all in demanding not to pay anything at all . Great player lol SmileJungleman tried to help him during this conflict to get his WSOP earnings back , good friends show thmeselves in times of crisis and greagt need Smile
 maragatero26/07/2020 00:01:59 GMT
Nothing to reveal CALICUL? Don´t you ask what was the arrangement? Do you think that Phil Ivey finally goes to his bank and brings with a bug with $ 10 million to the table? All of us are saying that this is not possible, and are speculating how could be it. If you have some information, please, give us so we could understand without any doubts
 DaCapo7126/07/2020 05:54:38 GMT
I heard news about Ivey after a long time. In the past he was a really big Player at FullTilt and the other people gaves him a lot of respect. After FullTilt going down, some of the most popular poker Player had offering the dark side of the business...
 antonis32126/07/2020 08:55:35 GMT
Ivey for sure was the best poker celebrity in the Full Tilt glorious days . the best
best-poker-face without any doubt , with great bluffs and awesome hands played by him . He was the No1 asset for Full Tilt . Although these great days have passed , he is still a very great player , with awesome skills , milking the rich whales on Macau and everywhere lol , doing the right thing . Now if he finds one more way to win money , why not ??? He didn't robbed the money from the casino , he played with the rules , with the system Blink
 dule-vu26/07/2020 10:11:12 GMT
antonis you are not right,he didnt played by the rules!why I say that?because court made decision that he need to back money to borgata and that was final decision!thats why they took from him this 124 K dollars!so you cant say that he was right!in america when court say something,that end of story!
this agreement is something else and probably its on his side,but we probably would never know what really happend!
 CALICUL26/07/2020 14:42:23 GMT
Honestly, don't know if Phil Ivey did the right thing or not, but if i read in my own language, maybe it was possible to be much better documented and could say a lot about this situation... in which this professional player and Borgata Casino were in a process.
 antonis32102/08/2020 22:51:36 GMT
You are right Dule vu , Phil Ivey didn't play BY the rules , butn he played instead WITh the rules Smile He tried , at least , to take advantage of some weaknesses that he and his friend found on this game at these casinos . Some say ti was cheating attitude , some said it was not a cheating but it 's not right or allowed , cause he doesn't play the game , but a sneaky way to fool the casino's edge , taking advantage of this cards' weak spot , I agree witht he second opinion . Anyway , I think at least one court decided like this , didn't face Ivey like a thief or a cheater , or else he would have been punished severely , he just disapprove of his method , found this method not right by the casionos' rules ,so he had to return the money , but not go to prison !!!! Smile
 CALICUL03/08/2020 06:54:09 GMT
Curiously, the final decision was made anonymously and that means Phil Ivey doesn't have to pay all that money. Borgata wanted this not to be known to the public so that other players could copy method of this professional player's. Is only my opinion.
 dule-vu03/08/2020 10:54:04 GMT
for me this rule about counting cards is very stupid,because this is card game and why you shouldnt count card and to see what cards are out and what are not!so they dont allow that,but want money from people!in this case probably he got his money,because they stopped to follow him and they dont want to wait for many years more to get money from him!
 CALICUL04/08/2020 07:39:39 GMT
At this point Phil Ivey is released from the emotion that his millions of dollars, all assets and property can be confiscated by US state. For years he lived with this tension, but now everything is over and no one bothers him, if he got along perfectly with Borgata...
 antonis32105/08/2020 20:07:54 GMT
The casino should have been way far more carefull with the cards they were using , They should have noticed this manufacture bad detail and imperfection , they have the best secure teams in the world , they take anti-cheating procedures very seriously , cannot understand how they didn't see that coming . I remember reading the story of how Ivey and his friend played , their demands during the games , due to superstition or whatever . This behavior by Ivey should have alarmed them from thre very first second , lol

Anyway , guess now they found a middle ground , i am sure both satisfactory , mutially beneficial , and without making publically known the details , soto avoid some problems . Maybe in the future we learn more about this agreement , it will be very interesting to read the settlement agreement Smile
 CALICUL06/08/2020 08:40:55 GMT
Any casino need to have a list where all known cheats should be written and players to know that. If someone tries this thing will lose all money. In this case, Phil Ivey is suspected of using a method that was not banned in Borgata. It's complicated...
 antonis32106/08/2020 21:54:47 GMT
People alays try to find ways to play with the rules , with the system , too cheat or steal . It's the businesses' or governments' obligation to be one step forward from these guys , know their tricks , their cheating methods , their plans and secure their properties or businesses . You cannot expect the players or the simple people to restain themselves , only clear rules , penalties , punishments will make them not do their plans . Especially on games on casinos , the slots , the blackjack , other card games , always there were some people trying to cheat , steal from others or play with the rules . Ofcourse if they caught them , tarring and feathering , lol
 CALICUL07/08/2020 09:21:57 GMT
I have seen this things and most laws are broken, because they are wrong. The others are not respected because there are many criminals who steal, rape, kill, sell drugs, fraud, etc... What Phil Ivey did there was probably a premiere and was considered cheating.
 antonis32111/08/2020 04:59:17 GMT
Many are the pros , who tried in the past to cheat or play with the rules and the weaknesses of these rules , maybe use programms or bots in online poker rooms , or try to steal casinos live , from poker games or their slots or blackjack games . So , what is the pont , that the best way to not break even , to beat the house edge or the downswings and the rest bad actors in poker or casino games , is to cheat ?? or Play duviously with the rules ??? Some pros and generally some players or people want to win by all means necessary !!!
 CALICUL11/08/2020 05:33:25 GMT
Many players want to win by cheating because their desire to make money is too big for realize that they are committing illegality. Justin Bonomo is one of them. He was caught in the past using multiple accounts on a poker room but in total it was banned on several sites and over $ 100,000 confiscated. He is now ranked 2nd on the All Time Money List.
 antonis32115/08/2020 20:00:13 GMT
Yes , Justin Bonomo , The great Bonomo was one of them , took some hits from online and live poker community about these incidents in his past . And Bonomo is one of the greatest , second in the all time money list , the greatest GTO poker player imo , with incredible gamepley , results , especially during one only year !! Why did he decide to step back from poker , when he was winning so much , when he was far ahead from anyont else in the poker strategy , decisions , results , study of the game , in solve solutions , in everything it's a mystery to me. Don't know if he came back since then , but still it's a mystery to me....

Alot of pros cheated or attempted to cheat or to play with the rules of some games , which might not be cheat by law , but it still is not good according to ethic and moral . This is not good example for the new players who want to seek winnings online or live , that stealing is a way to win money from poker games , live or online , with tricks ,programms , other ways .
 CALICUL16/08/2020 07:38:02 GMT
Many players have made money through illegal programs and that is for sure. Some were professionals, others knew certain strategies but in the end happiest were those who were left with good profit. They have advantage because have not been caught.
 antonis32127/08/2020 07:38:02 GMT
If I am not mistaken , the casino from the beginning waes demanding its money back from these sessions , nothing more , not more money , not any jail time , as a penalty or just to feel satisfied and justified . I think the same happened with the other casino where Ivey did the same thing . This is an interesting side of the news .
If only one day this agreement details come to the light . I just imagine Ivey paying only 7/10 or 8/10 of the money , keeping a million for him , he would never back off sth if he didn't earn sth in the end , especially for so much money on stake , plus his overall reputation as a tough player- that''s important for his friendships and the fellow whales he plays against at Macau ....
 CALICUL27/08/2020 17:10:37 GMT
I don't know what the laws are in case of cheating at casino games. Possibility of Phil Ivey going to jail may have been small because he is a legendary player, even though he is young and borgata casino has not filed a criminal complaint against him. If cheated, would go probably in jail.

Write a comment:

You must be logged in, to comment on news...

Disclosure: BankrollMob may earn a commission based on the advertisement material on this site.

© 2020 BankrollMob.com - All Rights Reserved CONTACT | ABOUT | PRIVACY & COOKIE POLICY | TERMS & CONDITIONS | NEWSLETTERS | AFFILIATES | REPORT SPAM | ADVERTISING