Borgata Seeks $15,5 Million in Damages from Phil Ivey

The Borgata casino in Atlantic City is seeking $15,5 million in damages from Phil Ivey after a federal judge ruled last month, that Ivey and his companion violated state gambling regulations in the way they won nearly $10 million playing Baccarat.

The Borgata had 20 days to outline the damages and by the looks of it the casino is seeking to get all of the winnings back including some interest.

According to nj.com, the Borgata is seeking a whopping $15,5 million from Ivey. In addition to the $10 million won, Borgata wants another $249,000 in comps (Ivey used private jets etc.) from the four trips AND $5,4 million in lost house "edge":

In April 2012, Ivey played 1,180 hands with an average bet of $25,000.

In May 2012, it's 4,215 hands with an average bet of $36,000.

In July 2012, it's 1,373 hands with an average bet of $93,000.

In Oct. 2012, it's 1,850 hands with an average bet of $96,000.

Borgata is claiming that if Ivey played the 8,618 hands at an average bet of $56,000 without the edge, Ivey and his companion would have lost $5,4 million. Ivey and Sun’s legal team have now 20 days to respond to the Borgata brief.

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