Phil Ivey and his legal team have been busy lately. They have now filed a countersuit against the Borgata over Ivey’s alleged edge sorting scandal. Meanwhile, Stockton University can pursue a new buyer for the Showboat following a judge’s ruling that they properly terminated their sale agreement with Glenn Straub.
Borgata Claims it Destroyed Cards Before Discovering Ivey Cheating Incident
This past Friday, the Borgata Casino & Spa responded to a countersuit filed by professional poker player Phil Ivey over the now infamous edge sorting case. The Borgata accuses Ivey of winning $9.6 million at baccarat by using a scheme known as edge sorting. Ivey admittedly discovered a flaw in the cards and used that flaw to his advantage to win at the game.
Ivey countersued recently claiming that the Borgata knew that the cards used in play were defective and that the casinos intentionally destroyed the cards effectively “eviscerating the defendants’ ability to prove the lack of any defective cards.”
In the Borgata’s response, they said that the cards were destroyed as part of normal business practices and the destruction of the cards was done before the alleged cheating scheme had been discovered. Furthermore, the casino argues that Ivey cannot sue because his conduct was what resulted in injury, not the actions of the casino.
Borgata is seeking to recoup the $9.6 million in earnings from Ivey. Last year, Ivey lost a lawsuit in Britain’s High Court over allegations of edge sorting in a London casino. The casino refused to pay $12.4 million in winnings to Ivey because he used the same edge-sorting scheme used at the Borgata. The court eventually ruled that Ivey’s conduct equated to cheating and permitted the casino to keep the $12.4 million.
Stockton College Can Sell Showboat to Another Buyer
The sale agreement for the Showboat between Stockton University and Glenn Straub is officially terminated. Last week, a judge ruled that Stockton University may sell Showboat to another buyer after ruling that the University properly terminated their agreement with Straub.
Straub’s KK Ventures agreed to purchase the Showboat back in April for $26 million but Straub filed a lawsuit against the college in July claiming that they had not sufficiently attempted to resolve restrictions on the property.
Stockton had purchased the property in 2014 and intended to open it as a satellite campus. However, a pair of conflicting legal restrictions stopped the University from moving forward. The restrictions prevent the property from being reopened as a casino and the other prevents the property from being used as anything except a casino.
The $26 million purchase price for the Showboat has been sitting in escrow since the deal was singed. That amount plus interest must be returned to Straub. KK Ventures is appealing the decision.
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