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Borgata owes $10.6 million by Phil Ivey
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The poker pro was accused of "edge sorting" during a Baccarat game that featured defective player cards
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Casino is attempting to go after Ivey Holdings, which is estimated to be worth $100 million
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Atlantic City's Borgata Casino has been awarded the approval to go after poker pro Phil Ivey's assets in Las Vegas.
In 2016, Ivey was ordered to pay back $10.6 million he had won at the casino playing Baccarat. He and a female companion, Chung Yin Sun, were accused of taking advantage of playing card defects and engaging in "edge sorting". The practice is a technique used where a player determines whether a face-down playing card is likely to be low or high through the exploitation of subtle unintentional differences on the backs of the cards being dealt. The card manufacturer admitted to the defects later on.
The sum included money that Ivey won playing craps with some of the money he won at the card table.
"This case involves the whims of Lady Luck, who casts uncertainty on every hand, despite the house odds," U.S. District Court Judge Noel Hillman wrote in his opinion at the time. "Indeed, Lady Luck is like nectar to gamblers, because no one would otherwise play a game he knows he will always lose."
The casino is yet to collect from Ivey. After the ruling in its favor, the Borgata could only find a nominal Wells Fargo account in the state of New Jersey that bore Ivey’s name.
The casino filed an order back in October to expand its efforts beyond New Jersey in ceasing the poker pro's assets.
“Although the extent of Defendant Ivey’s business holdings is unclear, it is believed that Ivey Poker, LLC is the entity behind Ivey League, Ivey’s poker oriented website,” Borgata’s legal team wrote. “Ivey’s holdings have been estimated at $100 million, and the above shows these holdings, at least those that are ascertainable, are based in Nevada. Ivey has also disclosed a luxury home in Cabo San Lucas, Mexico on his social media account. It is possible that one of Ivey’s Nevada entities is the ultimate owner of this home.”
- Nagesh Rath, Gambling911.com
