Poker superstar Phil Ivey in dispute over $11.7 million payout
Controversy seems to follow poker superstar Phil Ivey.
Crockfords, a casino in London's Mayfair, is withholding an $11.7 million payout Ivey earned in August. The casino, which is owned by Malaysia-based Genting, informed Britain gaming authorities it is investigating circumstances surrounding Ivey’s gambling.
According to media reports, Ivey won 7.3 million British pounds playing the game Punto Banco, which is a variation of baccarat. His original bankroll was 1 million British pounds, which equals $1.6 million in U.S. dollars.
Ivey reportedly asked that his winnings be transferred to his bank account. However, the casino has only returned his original wagering stake.
Crockfords informed authorities that it is withholding Ivey’s payout. A source with close knowledge of the dispute described the situation as unprecedented.
Ivey reportedly played for two nights over the August bank holiday for a total of seven hours. Suspicions intensified when it was discovered that a female companion with Ivey had a suspended membership with another Mayfair casino.
Genting investigators flew to London from Kuala Lumpur to speak to employees working on the two nights in question and to examine hours of film from surveillance cameras. The cards used and the shoe they were dealt from were also scrutinized.
Staff members, including a female croupier, were interviewed over fears of collusion.
It is unclear what, if anything, Ivey has been accused of doing. Lawyers for both sides are said to be engaged in an increasingly tense stand-off. It is not thought that police have been alerted, media reports stated.
Ivey, who is tied for fifth place among the all-time World Series of Poker individual event bracelet winners, returned to the tournament this year after staying away in 2011. Ivey was tied to the now defunct Full Tilt Poker. He said he was sitting out the tournament in protest over American players not receiving their bankrolls from the website.
Ivey cashed in seven events at this year’s tournament, reaching five final tables. Ivey has more than $5.8 million in career World Series of Poker earnings, but has earned more than double that amount in tournament poker.
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