The plot thickens with the Phil Ivey and Borgata dispute

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QA77

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Very interesting. I feel like Borgata is going to win in any situation. Ivey and the backers are out of luck.
 
puzzlefish

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Nah, it's just a matter of a court deciding the split between Ivy's backers and Borgatta. If Ivy didn't pay any of his own buy-in, then Borgatta should not be getting anything here.. if Ivy did front some of his entry fees, then there would likely be a proportionate split of the winnings.
 
smallfrie

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Pretty much sums up my thoughts on anything to do with this situation.
 
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MikeCarasone

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How sad that at one time Phil Ivey was listed as having a net worth of 100 million or more. Now he is in debt of over 10 million from a cheating scandal lawsuit and has ducked paying it back to the point that his winnings are being garnished. Sad state of affairs when he has to seek staking. I know staking is common in poker but Ivey should not have to be staked in any wsop events except maybe the million dollar buy in. Obviously the mighty have fallen. Wonder what he’s worth now.
 
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Phil Ivey gives poker a bad name for sure
 
TheDude6622

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Such a sad turn of events for a guy that helped build the poker community. Time to put our time and energy into other great players.
 
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lontrus

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Damn, I've been so out of the loop I had no idea about this. Drama makes the world go around.
 
puzzlefish

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Is he really in debt or just trying to use a loophole to prevent the casino from collecting?
 
Shells

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Is he really in debt or just trying to use a loophole to prevent the casino from collecting?

Good point. Maybe a split afterwards.

Who knows, right?! There are so many possible thoughts on Phil's actual financial status and how he will go about paying this debt. I don't believe we will ever truly know if he has the ways and means to cover this debt or not. Another thing - the people involved with the staking had to be aware of the court decision involved (we'd have to be hiding under a rock not to know) so, my educated guess is the backers would be aware of any potential issues if Phil happened to win anything. (there has to be a lot more to all of this, really)

You have got yourself in a legal pickle, Phil. ;)
 
puzzlefish

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Who knows, right?! There are so many possible thoughts on Phil's actual financial status and how he will go about paying this debt. I don't believe we will ever truly know if he has the ways and means to cover this debt or not. Another thing - the people involved with the staking had to be aware of the court decision involved (we'd have to be hiding under a rock not to know) so, my educated guess is the backers would be aware of any potential issues if Phil happened to win anything. (there has to be a lot more to all of this, really)

You have got yourself in a legal pickle, Phil. ;)
I don't know, but given that the winnings are so small in comparison to the debt, I doubt Borgata will put up much of a fight against Ivy's backers. And yes I agree the backers would have had to have been in on it and aware that this would be the outcome. It's a perfect grey area for them to operate in.
 
Donsmak

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Mayb the backers are just one his plans from the beginning , if he won any big cash he would have a way to defend against the casino so it wouldn't take all his winning ?
just a thought lol i mean we are talking about Ivey he rob the casino ,this dude is smart...
 
Shells

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I don't know, but given that the winnings are so small in comparison to the debt, I doubt Borgata will put up much of a fight against Ivy's backers. And yes I agree the backers would have had to have been in on it and aware that this would be the outcome. It's a perfect grey area for them to operate in.

I'm pretty sure Borgata would be sending the marshals after his winnings just to make a complete example of Ivey. Because compared to the amount of the judgement to the winnings isn't even a drop in the bucket, so to speak. I become a little cynical when it comes to things like this - so much money involved, a prolific poker player, and now backers who should know what's happening are in on it?

The things that make you go hmmm......
 
Shells

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Mayb the backers are just one his plans from the beginning , if he won any big cash he would have a way to defend against the casino so it wouldn't take all his winning ?
just a thought lol i mean we are talking about Ivey he rob the casino ,this dude is smart...

The backers could totally be in the know. However, with limited information, it's so hard to know - most of the time folks like ourselves just speculate.
 
zviko

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What!? I thought this news was long gone. That sounds ridiculous to me!
 
Becky Eubanks

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What a tangled web, who knows what the real truth is .
 
Shells

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What!? I thought this news was long gone. That sounds ridiculous to me!


I think this news will go on for much longer than anyone ever would have anticipated. At least, until one of the parties is completely satisfied.
 
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