Federal judge issues latest ruling against Phil Ivey
In New Jersey, a federal judge has reportedly given the former operator behind the Borgata Hotel Casino and Spa permission to expand its search as it attempts to recover at least some of the $10.16 million it says it is owed by professional poker player, Phil Ivey (pictured).
‘Edge-sorting’ controversy:
According to a February 3 report from FlushDraw.net, this ruling dates back to 2012 when 42-year-old Ivey and partner Cheung Yin ‘Kelly’ Sun were alleged to have used a technique known as ‘edge-sorting’ to win approximately $9.6 million at the Atlantic City casino. This controversial method is considered to be cheating and is said to involve players identifying subtle flaws on the back of cards in order to ascertain their values.
Marina District Development Company LLC, which operated the Borgata Hotel Casino and Spa until August of 2016, subsequently filed a lawsuit in order to recover the funds it contended Ivey won by illicit means and was subsequently rewarded with a positive judgment.
New Jersey dearth:
However, when the casino operator attempted to follow through with the December of 2016 ruling, it reportedly discovered that Ivey, who is thought to have a net worth of around $100 million, held absolutely no assets in New Jersey.
Nevada appeal:
It was further reported that Marina District Development Company LLC, which was a joint venture between Boyd Gaming Corporation and MGM Resorts International until being absorbed by the latter firm a little over 28 months ago, consequently sought a second judgment that would allow it to go after Ivey’s holdings in his supposed resident state of Nevada.
In the most recent development, January 28 saw United States District Judge Noel Hillman from the United States District Court for the District of New Jersey rule in favor of the former casino operator by giving it permission to seize the ten-time World Series of Poker (WSOP) bracelet winner’s assets in ‘The Silver State.’
Overseas holdings:
At this time, it remains unclear whether the casino firm’s efforts in Nevada will be successful as Ivey is thought to have recently moved a large portion of his considerable wealth overseas as indicated by the seaside holiday villa he now owns in the exclusive Mexican resort city of Cabo San Lucas.
