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Aug 28, 2018  
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Phil Ivey Looks to Delay Payment of $10.1M to Borgata

Phil Ivey - 2018 Triton Super High Roller Series MontenegroHKD $250,000 Short D He followed up Montenegro by playing a rather full World Series of Poker schedule, wherein he posted buy-ins ranging from the $565 No Limit Hold’em Colossus up to the $1 million buy-in Big One for One Drop. Ivey cashed in four events during the 2018 WSOP for $139,780, his best coming for a ninth-place finish in the $50,000 Poker Players Championship for $111,447. While Ivey clearly had a losing WSOP in terms of net profit, Borgata’s lawyers took his recent tournament poker activity to mean that it’s time to pay back the debt owed. Phil Ivey won the HKD $250,000 Triton Short Deck event in May 2018. Borgata’s lawyers argued against the court granting Ivey a stay, pending appeal, on the grounds that the payment would not cause irreparable harm and Ivey should be able to come up with the money, based on some recent facts. “First, let us not forget that Ivey has Borgata’s $10 million,” Borgata asserted in court documents. “As early as October 2012 (immediately after the fourth trip to Borgata), Ivey knew that his edge sorting scheme was unmasked, with [the British casino] Crockford’s publicly withholding about $12 million in alleged winnings. There is no indication that Ivey did not prudently sock away Borgata’s $10 million, figuring that was the next shoe to drop.” "Let us not forget that Ivey has Borgata’s $10 million.” While this argument may be hard to prove, Borgata also listed Ivey’s return to the WSOP as further proof that he “has no problem coming up with” large buy-ins for poker tournaments, claiming he can always get into a poker game. They also mentioned his more than $2 million in tournament winnings from May through July as indication that he should have the money to spare. Of course, this figure does not take into consideration net profit, which would be remarkably different considering he played and did not cash in a $1 million buy-in tournament.

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