Phil Ivey Forced to Pay Borgata $10.1 million
After losing his appeal against the cheating charges brought against him, Phil Ivey has been ordered to repay Borgata $10.1 million. This order was issued by the US District Judge on December 15th after the judge ruled that Ivey was in fact obligated to repay the casino.
Based on his judgment, Judge Noel Hillman ruled that both his partner Yin Sun and Ivey were in breach of their agreement of paying Borgata which means that they must return their winnings. These charges are based on allegations made against the gambler that, while playing baccarat, he cheated his way to a win.
The judge is taking Ivey’s side with regards to the payment the gambler has to make. Using a “status quo ante theory,” Hillman ordered both players to make the repayment before the “formation of a contract” which is the amount Ivey took away soon after the session.
Although Ivey isn’t too thrilled about paying back the money, the judge was lenient when he ordered $10.1 million as opposed to the $16 million, which is what Ivey could have been requested to pay back. Soon after winning its case against Sun and Ivey, Borgata was also given the option of claiming back any damages it believed were incurred during the incident.
Borgata also requested an additional $5.6 million, which they feel Ivey would have lost had the gambler continued to play without the marked cards he was using. Interestingly, Ivey wasn’t responsible for the markings on the cards nor was he liable for using the cards during the games. Due to this, the judge was forced to rule Ivey took full advantage of the flaw and breached his fair play contract with the casino.
However, if the judge had sided with Borgata on the fair play, misconduct, the ruling could have set a rather bad precedent for the US casino industry as a whole. This could have in turn opened a can of nasty claims with similar cases. For both Ivey and Sun, they need to pay back the money.