Federal judge issues Newest Judgment against Phil Ivey

At New Jersey, a federal judge has reportedly given the prior operator supporting the Borgata Hotel Casino and Spa consent to expand its own search as it tries to regain at least a few of the $10.16 million it says it is owed by professional poker participant, Phil Ivey (pictured).

Based on a February 3 report from FlushDraw.net, this ruling dates back to 2012 if 42-year-old Ivey and spouse Cheung Yin ‘Kelly’ Sun were alleged to have used a technique called ‘edge-sorting’ to triumph roughly $9.6 million in the Atlantic City casino. This controversial method is considered to be cheating and is said to involve gamers identifying subtle defects on the rear of cards in order to ascertain their worth.

Marina District Development Company LLC, which operated the Borgata Hotel Casino and Spa before August of 2016, subsequently filed a lawsuit in order to recoup the capital it claimed Ivey won by illicit means and was subsequently rewarded with a favorable judgment.

New Jersey dearth:

But when the casino operator tried to follow along with the December of 2016 ruling, it reportedly found that Ivey, who is thought to have a net worth of about $100 million, held zero assets at New Jersey.

Nevada appeal:

It was further reported that Marina District Development Company LLC, that was a joint venture between Boyd Gaming Corporation and MGM Resorts International before being consumed by the latter company a little over 28 months ago, consequently sought a second judgment that would let it go following Ivey’s holdings within his supposed resident country of Nevada.

At the most recent development, January 28 saw United States District Judge Noel Hillman from the United States District Court for the District of New Jersey rule in favour of the prior casino operator by giving it permission to seize the ten-time World collection of Poker (WSOP) bracelet winner’s assets in ‘The Silver State. ’

Overseas holdings:

At this moment, it remains unclear whether the casino company ’s attempts in Nevada will succeed as Ivey is considered to have recently moved a large portion of his considerable wealth abroad as signaled by the beachfront holiday villa he now owns in the exclusive Mexican resort town of Cabo San Lucas.