Ivey Borgata Case Takes Another Turn as Cates and Trincher File Objection
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The long-running legal battle between Borgata Hotel Casino & Spa and poker legend Phil Ivey has taken another twist after two high stakes pro poker players filed a legal objection in Nevada to Borgata withholding Ivey’s $124,410 cash from this summer’s World Series of Poker.
Daniel “Jungleman” Cates and high stakes cash game player Illya Trincher filed the objection in Nevada on Aug. 30, according to Flushdraw.net. Cates and Trincher claim they fully stakes Ivey in the $50,000 Poker Players Championship at the 2019 WSOP. Ivey navigated his way to an eighth-place finish and “won” $124,410.
Ivey currently owes Borgata more than $10 million relating to his baccarat edge-sorting case. Borgata was successful in laying claim to those winnings, which were first withheld by the WSOP then handed over to Borgata by U.S. Marshals.
Cates and Trincher Stakes Ivey
Under the terms of the agreement between Cates, Trincher, and Ivey, both Cates and Trincher were due the $50,000 buy-in back if Ivey cashed in the Poker Players Championship. Cates and Trincher should have also received 50 percent of any profit.
As Ivey cashed in the event for $124,410, Cates and Trincher claim they are owed a total of $87,205 of that score, made up of the $50,000 buy-in and half of Ivey’s “profit.”
Cates and Trincher have enlisted the services of Las Vegas law firm Chesnoff and Schonfeld to represent them. Chesnoff and Schonfeld specialize in gambling matters and have represented Ivey in some of his other cases.
Part of the objection, submitted by Richard A. Schonfeld, reads:
Mr. Cates and Mr. Trincher had an existing staking agreement with Mr. Ivey. On or about June 24, 2019, Mr. Cates and Mr. Trincher agreed to provide Mr. Ivey with the full $50,000 buy-in for a World Series of Poker tournament at the Rio Hotel and Casino in Las Vegas, Nevada, specifically the $50,000 Poker Players Championship (Event #58) on June 24, 2019, in exchange for 50% of the winnings (in addition to the return of our $50,000 principal). On or about June 24, 2019, Mr. Trincher provided Mr. Ivey with said $50,000 for the buy-in pursuant to their existing staking agreement.
In said chat exchange on or about June 24, 2019, at approximately 4:04 pm, Mr. Trincher sent a message to Mr. Cates which stated that Trincher “Gave Phil 100 for tournament total so far (50 for today).” This chat evidences that Mr. Cates and Mr. Trincher provided Phil Ivey the full $50,000 buy-in pursuant to the terms of their existing staking agreement.
Objection Could Set a Precedent
As Flushdraw.net suggests, the case will not be clear cut and could set a precedent for similar lawsuits in the future.
Borgata will likely claim Ivey knew about Borgata’s intentions to withhold any winnings before him entering the staking arrangement with Cates and Trincher. It's also unlikely that any judge or court would believe Cates and Trincher were unaware of Ivey’s legal wranglings, due to their high profile nature.
Another possibility is Cates and Trincher could be forced to pursue Ivey for the $87,205 they claim they’re owed. With Ivey claiming he has no tangible assets and the fact he required staking in the Poker Players Championship, this could prove difficult.
