Phil Ivey legal saga with Borgata takes another turnSeptember 11, 2019 12:07 am
The ongoing legal saga between poker legend Phil Ivey and Atlantic City’s Borgata Casino took another odd turn in late August.
An objection was filed by two poker pros, who claim they staked Ivey in this year’s World Series of Poker.
The legal battle between Ivey and Borgata goes back years, starting in 2014 when Ivey won millions playing baccarat at the Borgata. After it was determined that Ivey won at baccarat by edge sorting (taking advantage of a defect in the playing cards), the courts ordered Ivey to pay back the Borgata $10 million.
The Borgata began to collect on this unpaid debt at this year’s WSOP after Ivey cashed $124,410 by finishing eighth in the $50,000 Poker Player’s Championship. Ivey never saw a cent of that money, as it went directly from the WSOP to the US Marshals Service, which handed it off to the Borgata.
Now Daniel Cates and Illya Trincher want some of the money the Borgata took from Ivey. According to an objection filed by Cates and Trincher’s lawyer in Nevada courts on August 30, Cates and Trincher fully staked Ivey’s buy-in for the $50,000 Poker Player’s Championship.
Under an agreement reached between Cates, Trincher and Ivey, the duo agreed to stake Ivey the full $50,000, and if he cashed, they would receive their $50,000 back, plus half of any profits. According to the objection that amounts to $87,205 of the $124,410 that the Borgata has claimed.
As proof of their objection Cates and Trincher submitted a text history between Trincher and Ivey that outlined the deal.
Legal minds don’t have a clear answer as to what decision could be made in that case. The Borgata will likely claim that Ivey knew they intended to garnish any of his poker winnings before he entered into the agreement with Cates and Trincher.
It will also likely argue that Ivey’s high-profile legal battle with the Borgata and the Borgata’s subsequent victory would have been well-known by both Cates and Trincher.
The decision in this case could not only set legal precedent for any future similar legal proceedings, but it could also determine if anyone will be willing to stake Ivey in future poker games or tournaments.
If all of Ivey’s winning continue to be taken by the Borgata until his debt is fully paid, the poker legend may find it difficult to get anyone to stake him in the near future.