Phil Ivey in danger of going bankrupt?

The legendary gambler is looking for a major punishment from Borgata Casino after his edge-sorting scandal, which could threaten Ivey's livelihood.

As it's very well known in the poker world, Phil Ivey achieved huge success at the poker tables, but he's one of the few people, who has done great in other games against casinos as well. Ivey (and his companion Cheung Yin "Kelly" Sun) won more than $20 million playing high-stakes Punto Banco in the Borgata Casino and the Crockfords Club. While Ivey received his winnings from Borgata, Crockfords refused to pay him, claiming he took advantage of them using "edge sorting" in the game.

Even though Borgata paid Ivey's $9.6 million winnings, after details of his session at Crockfords saw daylight, they decided to file a lawsuit against him, demanding him to pay back $10.1 million. Ivey and his legal team pushed for a stay of execution, as they argued such a massive sum would threaten Ivey's bankroll and whole livelihood, as he wouldn't be able to keep on playing on the highest level.

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However, Borgata argued that even if Ivey is forced to pay, he could still play poker professionally, as he could play tournaments with buy-ins under $10,000 or deposit "as little as $100" in an online poker account. Judge Hillman ruled for Borgata, saying Ivey (and his partner Sun) were unable to prove evidence of the payment threating their ability to gamble.

Cheung Yin "Kelly" Sun

Indeed, Ivey's tournament schedule for 2018 included the Big One for One Drop with a buy-in of $1,000,000 and other tournaments with six-figure buy-ins.

Even though back in 2016, Judge Hillman decided that Ivey and Sun did not commit fraud or violate state and federal RICO laws, Borgata is now challenging this decision. If they manage to win the case, they will be entitled to Treble Damages, which could cost Ivey close to $30 million.

We're yet to see how this complex case will develop, but we'll be there to provide you with the latest updates!