Phil Ivey Received $920k per Month from Tiltware LLC

Phil Ivey’s Tiltware LLC payment details have been published in the process of his divorce case. The eight times WSOP champion received a monthly fee of $920,000 from the company.

Phil and Luciaetta Ivey

In late 2011, Phil Ivey’s ex-wife Luciaetta went to the Nevada Supreme Court as she considered her share following their divorce in 2009 unfair. Ivey paid $2.2 million to her ($1 million in jewellery) and an additional alimony of $180,000 from January, 2010. Moreover, Luciaetta would receive a 40% cut of all of Ivey’s shares and other incomes, except for the Tiltware shares. An additional 40% of the sell price of their home went to her, besides a car and a down payment for a new apartment.

Luciaetta arguably appealed to the Supreme Court because she had only been eligible for the alimony as long as Ivey received a regular payment from Full Tilt Poker mother company Tiltware; that is, until April 2011, the Black Friday. As a result, Ivey has been forced to certify his incomes from Tiltware: a monthly wage of $920,000. Lawyer Bruce Shapiro claims that Luciaetta would have been eligible for 50% of this salary, given that Ivey signed to the company during their marriage.

Ivey and his representative build their defence on his ex-wife’s greed and argue that Luciaetta has only appealed because she had already depleted her resources she received upon their divorce.