Borgata Confiscated Phil Ivey’s 2019 WSOP Payout
When Phil Ivey participated in the 2019 World Series of Poker (WSOP) he could hardly know he was playing for the Atlantic City-based Borgata.
Casino resort Borgata seized in July a six-figure payout Phil Ivey received at the WSOP, after a five-year-long legal process, reports poker news outlet Flushdraw.
Phil Ivey won $124,410 at the $50,000 buy-in WSOP Poker Players Championship in June, after finishing eighth. However, the payout didn’t fall into Ivey’s hands — it went to Borgata.
The US Marshals Service confiscated the money which went towards a $10.1 million debt the player owes to the casino resort.
In 2012, Ivey won $10.1 million by playing baccarat and craps with his partner Kelly Cheung Yin Sun at Borgata, after which the casino resort filed a lawsuit, alleging that the two used the edge-sorting technique to memorize subtle differences on the backs of the cards.
A Federal Judge ruled in the casino’s favor, directing Ivey to settle the debt.
Ivey has won ten WSOP gold bracelets, and his net worth is valued at $26.3 million.