Ivey still under Borgata’s thumb; could have to pay double
A court document shows Borgata seeking $20,000 from the poker player
Phil Ivey has already been ordered to make restitution in the amount of $10,000 to the Borgata Hotel Casino & Spa in New Jersey for edge-sorting in baccarat games and, when he didn’t pay up, the casino went after his bank accounts in the state. Still not having settled his debt, the Borgata then sought injunctive relief in Nevada last month, which was approved by a judge. That order sought the repayment of the $10.13 million Ivey reportedly owes, as well as interest and court fees. Only six days after that order was submitted, though, a second order was entered by Borgata counsel and the figure mysteriously jumped to over $20 million.
Ivey is a resident of Las Vegas, which is part of the reason the order was filed in Nevada. The other reason was an attempt to garner any earnings he picked up while participating in the WSOP. According to the latest court documents, the total amount sought by Borgata is $20,474,992.12 – much higher than the $10,344,518 that is listed as the winnings paid plus accrued interest.
There’s a theory that the amount is nothing more than a typographical error in the court document, but it was approved as is. Borgata may submit a revision, if it is indeed an error, and Ivey can contest it, as well. However, given the delays the Borgata has seen in trying to recuperate its money, it wouldn’t be beyond the scope of possibility that it would now try to collect double the original figure.
Ivey didn’t come close to winning enough at the WSOP to make a dent in his outstanding debt with Borgata, or any other recent tournaments in which he has participated. It isn’t known how much he is actually worth at this point – the amount ranges from virtually nothing to over $100 million. However, it would be surprising for him to not try to work a deal with the Borgata if he had money, even if it meant making regular payments over the next 30 years.