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While reports surfaced this week that poker pro Phil Ivey had settled his long-standing dispute with Atlantic City's Borgata Casino, the deal has yet to be finalized.
In 2016, Ivey was ordered to pay back $10.6 million he had won at the casino playing Baccarat. He and a female companion, Chung Yin Sun, were accused of taking advantage of playing card defects and engaging in "edge sorting". The practice is a technique used where a player determines whether a face-down playing card is likely to be low or high through the exploitation of subtle unintentional differences on the backs of the cards being dealt. The card manufacturer admitted to the defects later on.
The sum included money that Ivey won playing craps with some of the money he won at the card table.
Earlier this year, the Borgata was said to be tracking Ivey's financial movements.
On July 2, the parties filed a joint motion in the US Court of Appeals for the Third Circuit. They all moved for a stay of the proceedings and partial remand to the District Court.
“The parties participated in the mediation program, and they have now reached a settlement.”
The settlement depends upon the District Court setting aside particular orders and decisions from its decision, however.
- Ace King, Gambling911.com
