Billionaire poker player sues his own company
This will leave a few readers scratching their heads. A Las Vegas billionaire and poker player, Cary Katz, is suing CRTV LLC for $20 million. It wouldn't be too much of a shocker if it weren't for the fact that Katz owns the company, at least in part.
CRTV owns poker brands such as Poker Central, which, in turn, owns PokerGo. Katz is suing to try to recover the money he gave to CRTV via a loan in July of last year. The Las Vegas Review-Journal wrote, "The lawsuit alleges that CRTV, through manager Elizabeth Wood, agreed in July to repay a principal sum of $10 million, along with 5 percent annual interest. It claims Wood executed a second promissory note in January with the same terms. This month Katz issued 'a written demand for payment,' and the company informed Mr. Katz that it would not be able to perform its obligation."
While some wonder how Katz could sue his own company, others have begun to offer their theories. On the 2+2 poker forums, one user, DrSayre, believes that it could be part of a larger dispute between CRTV and a former radio host that worked for the company. DrSayre wrote, "In early 2017, shortly after CRTV launched, Mark Steyn (one of the 3 original hosts on CRTV) and CRTV had a falling out and Mark Steyn was let go... it sounds like this lawsuit is an attempt by Katz to avoid having to pay Mark Steyn. From what I can tell, I'm [sic] not sure it has much to do with PokerGo."