The situation between The Borgata and Phil Ivey just keeps getting more complicated. Just weeks after Atlantic City’s Borgata blocked Ivey from collecting a six-figure WSOP win, Daniel ‘Jungleman’ Cates has found himself involved in the mess.
Jungleman along with Illya Trincher had, in fact, backed Ivey in the event where he landed that significant sum. The pair now want their portion of the prize money, but will have to take it up with The Borgata.
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The Story So Far: Phil Ivey vs The Borgata
Ivey’s troubles with The Borgata go all the way back to 2012, and there has been lots of twists and turns. I don’t blame you if you haven’t kept up. So, here’s a little recap.
Along with his companion, Cheung Yin “Kelly” Sun, Ivey had won just under $10 million playing baccarat at The Borgata Casino in Atlantic City. The pair used a controversial strategy called “edge sorting” to secure the win, so the casino operator wasn’t particularly pleased with the windfall, and wanted to recoup their loss.
It wasn’t until 2016 that The Borgata took legal action, and judges ruled in the casino’s favor. For the next few months Ivey would appeal the decision and attempt to delay making any payments to The Borgata.
In August 2019, the casino operator was granted permission to collect money and assets to count towards the money owed by Ivey, essentially garnishing his wages. This ended up included his winnings in the $50K Poker Players’s Championship – which takes us to where we are now.
A Staking Deal Potentially Gone Wrong
Over the summer, Phil Ivey took part in the $50,000 Poker Players’ Championship. He was backed by Jungleman and Trincher in a 50/50 deal so, they would be entitled to half of whatever he won.
Sounds simple enough? Think again.
Before Ivey could collect his winnings, Borgata lawyers swooped in and took the money for themselves. It’s only 1% of what he owes the casino, but it seems that every little bit helps.
Now, Illya and Jungleman want their share of the winnings, which is now being held by the Borgata. They are owed just over $87,000, and they have extensive records proving that they had a deal with Ivey.
The pair has laywered up and are seeking payment from The Borgata.
A Complex Legal Battle Lies Ahead
This development makes the entire saga even more complicated. Of course, Jungleman and Tricher should be paid their share of Ivey’s winnings – and, if this were any other staking deal with any other player, they would get their payout eventually. However, all of the legal issues between Ivey and The Borgata mean that it won’t be nearly as straightforward.
The Borgata now has a hold of Phil Ivey’s win and, if the issue goes to court, a judge will decide if the pair should receive their share. It’s going to be an interesting decision either way, as there are some players who believe that it is only fair for them to get their payout, while others believe that they should have been more cautious when dealing with a player whose assets are being threatened by a major casino operator.
If their case is thrown out, there is always the possibility that Jungleman and Trincher will have to go after Ivey himself for their share of the staking deal.