Phil Ivey Might Have to Pay Back His $10M Atlantic City Win

Teemu - Sunday, October 23, 2016, Written by- Sunday, October 23, 2016, Live poker

Phil Ivey received some bad news on Friday, after federal judge ruled that he and his companion violated state gambling regulations in the way they won nearly $10 million playing Baccarat at an Atlantic City casino.

U.S. District Court Judge Noel Hillman determined that while Ivey and his companion player Cheng Yin Sun did not commit a fraud in the 2012 sessions, the pair violated state gambling regulations:

Ivey and [partner Cheng Ying] Sun, and perhaps others, view their actions to be akin to cunning, but not rule-breaking, maneuvers performed in many games, such as a play-action pass in American football or the “Marshall swindle” in chess. Sun’s mental acumen in distinguishing the minute differences in the patterns on the back of the playing cards is remarkable. But, even though Ivey and Sun’s cunning and skill did not break the rules of Baccarat, what sets Ivey and Sun’s actions apart from deceitful maneuvers in other games is that those maneuvers broke the rules of gambling as defined in this state. Borgata and Ivey and Sun were obligated to follow the proscriptions of the CCA in order to lawfully gamble in the first place, and then they were also obligated to follow the rules of Baccarat. Ivey and Sun breached their primary obligation.

In a nutshell this means that the case is going back to court. The Borgata casino now has 20 days to outline the damages it says it suffered, and Ivey (and his companion player) will have the same amount of time to file a response to Borgata’s submission.

If Ivey and Sun are eventually ordered to pay back the winnings, it would certainly be a massive blow to Ivey's bankroll.