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The long legal battle between poker superstar Phil Ivey and East Coast casino Borgata over nearly $10 million that the former won in baccarat may finally be coming to a close.
NJ Online Gamblingreported Wednesday morning that Ivey and Borgata had reached a settlement, citing a July 2 filing in the U.S. Court of Appeals for the Third Circuit.
Per usual in these cases, terms were not disclosed.
Ivey initially won the money all the way back in 2012, playing a series of sessions with gambling partner Cheung Yin 'Kelly' Sununder agreed-upon conditions that enabled the pair to have a sizable edge on Borgata, unbeknownst to Borgata officials.
Borgata filed suit in 2014 and a legal war ensued for the next half decade.
According to gaming attorney and sometime PokerNews contributorMac VerStandig, the only real surprise is that the two sides took this long to come to terms.
'It's unsurprising to see litigation settled, especially at the appellate stage where both parties have had the opportunity to air respective grievances, and the cost of going forward may outweigh what either party stands to gain,' VerStandig said. 'Cooler heads normally prevail sooner but it's not at all surprising to see it come to pass here.'
History of Legal Back-and-Forth
While the legal war started in 2014, it took until late 2016 for a big inflection point to finally occur. At that point, the judge presiding over the case sided with Borgata and ordered Ivey and Sun to return more than $10 million they'd won — the at-issue baccarat millions plus some craps winnings.
The case continued on appeal, and some sources reported Ivey was in danger of losing tens of millions to Borgata if things continued to go poorly in court.
Further damage against Ivey came when Borgata was granted clearance to seize his Nevada assets early last year. They followed through on that in high-profile fashion, garnishing Ivey's winnings when cashed in the $50,000 Poker Players Championship.
Ivey's Hidden Progress
Poker Player Phil Ivey Sued By Casino
However, while every turn was seeming to go against Ivey, he was all the while making some small gains in the background, like a poker player stealing enough blinds to stay afloat in a tournament.
'Borgata's case has always had serious vulnerabilities'
The appeals process was apparently going far better for Ivey than the initial case. Of central concern was the issue of whether he had cheated by marking cards. While nobody disputed that he hadn't marked the cards in the traditional sense, Borgata argued that turning the cards in different directions so Ivey and Sun could identify tiny imperfections in them — 'edge sorting' — constituted marking.
NJ Online Gambling reported that Ivey was likely a small favorite on appeal, a sentiment with which VerStandig agreed.
Conclusion Not Thrilling, Not Surprising
If Ivey were to win his appeal, the case would have continued on remand, going back to a lower court for reconsideration.
Borgata would have been forced to return the $124,410 it had already seized from Ivey, and nothing would have been guaranteed going forward. Both sides would have also been on the hook to continue shelling out attorney fees, which have been mounting the entire time in the long-running case.
Furthermore, even if Borgata emerged a winner in court, it's uncertain whether anything but a Pyrrhic victory would have been achieved. A New Jersey search for Ivey's assets only turned up a 'zero-dollar' bank account, and Ivey has been keeping most of his poker-playing activities out of the U.S. and away from Borgata's reach.
NJ Online Gambling also pointed out that ultimately losing the case 'could potentially create a precedent that could harm parent company MGM Resorts International in future cases involving cheating or advantage casino play.'
Calvin and family owner. Calvin and Family Group attention to details in all their projects is impeccable. It's always great to do business with them. I tell you what, there has never been an issue that Calvin and Family Team hasn't been able to solve for me. Sinethemba Dlamini.
Given that there appears to have been more downside than upside at this point for Borgata, the settlement seems unlikely to have been very costly for Ivey.
'Borgata's case has always had serious vulnerabilities and Borgata is certainly justified in getting whatever settlement it can get and not risking those vulnerabilities on a remand,' VerStandig said.
Tags
Phil IveyBorgataPoker and the LawRelated Players
Phil Ivey
| Celebrated Name: | Phil Laak |
|---|---|
| Real Name/Full Name: | Philip Courtney Laak |
| Gender: | Male |
| Age: | 48 years old |
| Birth Date: | 8 September 1972 |
| Birth Place: | Dublin, Ireland |
| Nationality: | American, Irish |
| Height: | 1.69 m |
| Weight: | 75 kg |
| Sexual Orientation: | Straight |
| Marital Status: | In relationship |
| Wife/Spouse (Name): | No |
| Children: | No |
| Dating/Girlfriend (Name): | Yes (Jennifer Tilly (2004–) |
| Profession: | Irish-American professional poker player |
| Net Worth in 2021: | $35 million |
| Last Updated: | March 2021 |
Famous Poker Players Phil
Phil Laak is a professional poker player. He does work as a poker commentator. He is currently living in Los Angeles. Among the awards that he has been able to receive includes a World Poker Tour title, a World Series of Poker bracelet. Laak has also been able to feature in multiple televisions shows.
Maybe you know about Phil Laak very well But do you know how old and tall is he, and what is his net worth in 2021? If you do not know, We have prepared this article about details of Phil Laak's short biography-wiki, career, professional life, personal life, today's net worth, age, height, weight, and more facts. Well, if you're ready, let's start.
Early Life
Poker Player Phil Ivey
Phil Laak got conceived in the year 1972 on September 8th. His place of birth was in Dublin, Ireland. He is currently living in LA, and he also has a house in Las Vegas. He did join the University of Massachusetts Amherst. Here, he went on to be able to complete a bachelor's degree in Mechanical Engineering.
He also did work in various jobs before joining poker games in California. Did you know that, together with Antonio Esfandiari, a professional poker, they used to be roommates? He later did migrate to New York City. This is where he was able to polish his skills in poker games. Here in New York City, he was also able to work as backgammon.
Phil Lock Poker Player
Age, Height, and Weight
Being born on 8 September 1972, Phil Laak is 48 years old as of today's date 10th March 2021. His height is 1.69 m tall, and his weight is 75 kg.
Career
Laak began to participate in poker games at a very tender age. He did participate in various tournaments. However, he was able to win his debut major tournament in the year 2004. This was after he did participate in the World Poker Tour. He has been able to attain several WPT final tables after he won WPT in the year 2004.
He has earned position six in the season two Battle of Champions and also at 2005 Five Diamond World Poker Classic. At the 2005 WSOP, he was able to finish at position two. He has been able to win against Ram Vaswani to bag the William Hill Poker Grand Prix. In this tournament, he was able to earn over 150,000 pounds.
He did participate in Poker Royale tournaments. He has been able to appear on season two of High Stakes Poker that got to be aired on GSN. Laak got emerge the champion of NBC, Poker After Dark. Here, he got to win a weekly sum of $120,000. This competition was dubbed ‘Phil Phil.'
In the Nicknames episode, he got to win $120,000. In the year 2007, at a conference that got to be held in Vancouver, together with Ali Eslami, who is also a poker player, they got to compete against computer software. They did win. Laak has been able to feature in Knight Rider television movie, where he did feature as a Poker Pro. Laak has competed in other competitions that he went on to win.
Awards and Achievements
NJ Online Gamblingreported Wednesday morning that Ivey and Borgata had reached a settlement, citing a July 2 filing in the U.S. Court of Appeals for the Third Circuit.
Per usual in these cases, terms were not disclosed.
Ivey initially won the money all the way back in 2012, playing a series of sessions with gambling partner Cheung Yin 'Kelly' Sununder agreed-upon conditions that enabled the pair to have a sizable edge on Borgata, unbeknownst to Borgata officials.
Borgata filed suit in 2014 and a legal war ensued for the next half decade.
According to gaming attorney and sometime PokerNews contributorMac VerStandig, the only real surprise is that the two sides took this long to come to terms.
'It's unsurprising to see litigation settled, especially at the appellate stage where both parties have had the opportunity to air respective grievances, and the cost of going forward may outweigh what either party stands to gain,' VerStandig said. 'Cooler heads normally prevail sooner but it's not at all surprising to see it come to pass here.'
History of Legal Back-and-Forth
While the legal war started in 2014, it took until late 2016 for a big inflection point to finally occur. At that point, the judge presiding over the case sided with Borgata and ordered Ivey and Sun to return more than $10 million they'd won — the at-issue baccarat millions plus some craps winnings.
The case continued on appeal, and some sources reported Ivey was in danger of losing tens of millions to Borgata if things continued to go poorly in court.
Further damage against Ivey came when Borgata was granted clearance to seize his Nevada assets early last year. They followed through on that in high-profile fashion, garnishing Ivey's winnings when cashed in the $50,000 Poker Players Championship.
Ivey's Hidden Progress
Poker Player Phil Ivey Sued By Casino
However, while every turn was seeming to go against Ivey, he was all the while making some small gains in the background, like a poker player stealing enough blinds to stay afloat in a tournament.
'Borgata's case has always had serious vulnerabilities'
The appeals process was apparently going far better for Ivey than the initial case. Of central concern was the issue of whether he had cheated by marking cards. While nobody disputed that he hadn't marked the cards in the traditional sense, Borgata argued that turning the cards in different directions so Ivey and Sun could identify tiny imperfections in them — 'edge sorting' — constituted marking.
NJ Online Gambling reported that Ivey was likely a small favorite on appeal, a sentiment with which VerStandig agreed.
Conclusion Not Thrilling, Not Surprising
If Ivey were to win his appeal, the case would have continued on remand, going back to a lower court for reconsideration.
Borgata would have been forced to return the $124,410 it had already seized from Ivey, and nothing would have been guaranteed going forward. Both sides would have also been on the hook to continue shelling out attorney fees, which have been mounting the entire time in the long-running case.
Furthermore, even if Borgata emerged a winner in court, it's uncertain whether anything but a Pyrrhic victory would have been achieved. A New Jersey search for Ivey's assets only turned up a 'zero-dollar' bank account, and Ivey has been keeping most of his poker-playing activities out of the U.S. and away from Borgata's reach.
NJ Online Gambling also pointed out that ultimately losing the case 'could potentially create a precedent that could harm parent company MGM Resorts International in future cases involving cheating or advantage casino play.'
Calvin and family owner. Calvin and Family Group attention to details in all their projects is impeccable. It's always great to do business with them. I tell you what, there has never been an issue that Calvin and Family Team hasn't been able to solve for me. Sinethemba Dlamini.
Given that there appears to have been more downside than upside at this point for Borgata, the settlement seems unlikely to have been very costly for Ivey.
'Borgata's case has always had serious vulnerabilities and Borgata is certainly justified in getting whatever settlement it can get and not risking those vulnerabilities on a remand,' VerStandig said.
Tags
Phil IveyBorgataPoker and the LawRelated Players
Phil Ivey
| Celebrated Name: | Phil Laak |
|---|---|
| Real Name/Full Name: | Philip Courtney Laak |
| Gender: | Male |
| Age: | 48 years old |
| Birth Date: | 8 September 1972 |
| Birth Place: | Dublin, Ireland |
| Nationality: | American, Irish |
| Height: | 1.69 m |
| Weight: | 75 kg |
| Sexual Orientation: | Straight |
| Marital Status: | In relationship |
| Wife/Spouse (Name): | No |
| Children: | No |
| Dating/Girlfriend (Name): | Yes (Jennifer Tilly (2004–) |
| Profession: | Irish-American professional poker player |
| Net Worth in 2021: | $35 million |
| Last Updated: | March 2021 |
Famous Poker Players Phil
Phil Laak is a professional poker player. He does work as a poker commentator. He is currently living in Los Angeles. Among the awards that he has been able to receive includes a World Poker Tour title, a World Series of Poker bracelet. Laak has also been able to feature in multiple televisions shows.
Maybe you know about Phil Laak very well But do you know how old and tall is he, and what is his net worth in 2021? If you do not know, We have prepared this article about details of Phil Laak's short biography-wiki, career, professional life, personal life, today's net worth, age, height, weight, and more facts. Well, if you're ready, let's start.
Early Life
Poker Player Phil Ivey
Phil Laak got conceived in the year 1972 on September 8th. His place of birth was in Dublin, Ireland. He is currently living in LA, and he also has a house in Las Vegas. He did join the University of Massachusetts Amherst. Here, he went on to be able to complete a bachelor's degree in Mechanical Engineering.
He also did work in various jobs before joining poker games in California. Did you know that, together with Antonio Esfandiari, a professional poker, they used to be roommates? He later did migrate to New York City. This is where he was able to polish his skills in poker games. Here in New York City, he was also able to work as backgammon.
Phil Lock Poker Player
Age, Height, and Weight
Being born on 8 September 1972, Phil Laak is 48 years old as of today's date 10th March 2021. His height is 1.69 m tall, and his weight is 75 kg.
Career
Laak began to participate in poker games at a very tender age. He did participate in various tournaments. However, he was able to win his debut major tournament in the year 2004. This was after he did participate in the World Poker Tour. He has been able to attain several WPT final tables after he won WPT in the year 2004.
He has earned position six in the season two Battle of Champions and also at 2005 Five Diamond World Poker Classic. At the 2005 WSOP, he was able to finish at position two. He has been able to win against Ram Vaswani to bag the William Hill Poker Grand Prix. In this tournament, he was able to earn over 150,000 pounds.
He did participate in Poker Royale tournaments. He has been able to appear on season two of High Stakes Poker that got to be aired on GSN. Laak got emerge the champion of NBC, Poker After Dark. Here, he got to win a weekly sum of $120,000. This competition was dubbed ‘Phil Phil.'
In the Nicknames episode, he got to win $120,000. In the year 2007, at a conference that got to be held in Vancouver, together with Ali Eslami, who is also a poker player, they got to compete against computer software. They did win. Laak has been able to feature in Knight Rider television movie, where he did feature as a Poker Pro. Laak has competed in other competitions that he went on to win.
Awards and Achievements
Phil Hellmuth Poker Player
Laak has had a very successful career as a poker player. His skills have seen him win not only money but also win very coveted awards. Among the awards that he has been able to win includes the 2010 World Series of Poker. He has also been able to win William Hill Poker Grand Prix. He has pocketed twice the World Poker Tournament. He has also been able to win in Partypoker.com World Open V.
Net Worth & Salary of Phil Laak in 2021
As of March 2021, Phil Laak has a net worth of over $35 million. This wealth has been generated from his career as a successful poker player. Apart from poker games, he has collected a sizeable amount of cash from his various appearances in television shows. All this has helped in generating more money, which has, in the long run, improved his net worth.
Poker Player Phil Ivey
There is no doubt that Laak has been among the greatest poker players of our time. His skills and experience saw him being able to defeat a computer program and emerge the winner. His success has translated to very good numbers that can be seen in his current net worth.
