Poker pro Phil Ivey was one of many taking part in the 2019 World Series of Poker in Las Vegas, Nevada this year. Ivey was able to earn four cash outs during the series, with his best being the 8th place finish of the Poker Players Championship, earning just over $124,000. While Ivey should be celebrating, he is not taking home any of the money as the Borgata has garnished his winnings based on money Ivey owes to the casino.
The US Marshalls Service took the money as a payment towards the massive amount Ivey owes the casino of Atlantic City, over $10 million to be exact. The poker pro was able to defeat the Borgata in 2012 along with partner Cheng Yin Sun at the game of baccarat. Two years later, the casino realized the players had used an edge sorting technique to win the funds. They since took the two to court and want their money back.
The casino sued Ivey and a judge ruled in their favor. Ivey was told by a judge to pay back the $10.1 million. The total includes $500,000 craps win from later in the night back in 2012. The casino has already tried to get their funds back but have found Ivey’s bank accounts in the states to be empty. Reportedly, the legal team of the Borgata claim that he poker pro sent his money to a bank account in Mexico.
In October of last year, a court ruling allowed the casino to seek the assets of Ivey outside of New Jersey. The Borgata then set their sights on Nevada. Up until the recent WSOP, the casino was unsuccessful in securing any funds. Once Ivey took part in the WSOP events, they were able to confiscate his winnings.
As Ivey was competing, the casino secured a writ of execution. This took place months ago, but details of the seizure have only just now come to light.
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