Ivey Borgata saga takes a new turn in Poker News
The legal battle between poker legend Phil Ivey and Borgata Hotel Casino & Spa takes a new turn in poker news. High stakes poker player Daniel “Jungleman” Cates and IIIya Trincher have enlisted the help of law firm Chesnoff and Schonfeld to help them recover 87,205$ owed to them.
Daniel “Jungleman” Cates and IIIya Trincher had staked Phil Ivey for the 50,000$ poker player championship in the WSOP. The deal was if Ivey Cashed they would get 50,000$ of the Buy-in Back and 50% of the profit. Ivey came 8th in the even for $124,410. Daniel “Jungleman” Cates and IIIya Trincher were supposed to get 50,000$ and 50% of 74,410$ totaling 87,205$ of which they got nothing. His winnings were withheld by WSOP and US Marshals moved these winnings to Borgata Hotel Casino & Spa.
Poker News: Borgata Hotel Casino and Spa had moved to courts in Nevada. And Ivey currently owes the casino 10 Million $ in his baccarat edge-sorting case. His wins are withheld in WSOP, to make good for the dues according to a court order. The New Jersey casino has gained the upper hand. In the years-long war against Ivey and fellow gambler Cheung Yin “Kelly” Sun, with a February ruling giving Borgata clearance to seize Ivey’s assets in Nevada after a fruitless search for anything of value in the Garden State. (read the full story here.)
If Daniel “Jungleman” Cates and IIIya Trincher can win this cash it would set a president for all future cases.
It would we tough to convince a judge to two high stakes cash game players were unaware of Borgata’s claim on Iveys winning. Phil Ivey in the past has declared that he has no tangible assets and needs a stake to play it will be tough for Cates and Trincher to pursue Ivery for the part of profits they are owed.
Let’s watch as the case unfolds