Phil Ivey Sues Crockfords Casino for Unpaid Winnings amounting to over $12 million
In a follow up to a story dating back to last October, Phil Ivey is suing London’s Crockfords casino for £7.3 million ($12.1 million) that was withheld from him in late August earned while playing punto banco.
In late August, Ivey sat down with £1 million at a high stakes game of punto banco, betting about £50,000 per hand. He was later allowed to increase his bets to £150,000. During his first punto banco session, Ivey lost about £500,000. He returned the next night, however, and went on a terrific run, finishing £2.3 million up. The following night, he won £5 million.
Crockfords was going to initiate an investigation into the possibility of the poker pro cheating. There did not appear to be any evidence of Ivey cheating but something that drew attention as the presence of a female companion who had had her membership at another local casino suspended.
In a statement, Ivey said: “I am deeply saddened that Crockfords has left me no alternative but to proceed with legal action, following its decision to withhold my winnings. I have much respect for Gentings, which has made this a very difficult decision for me.”