Phil Ivey, nine-time World Series of Poker bracelet winner, won £7.8 million while at Crockfords casino playing Punto Banko in August 2012 but the Genting-owned casino is refusing to pay the winnings to Ivey.
With months of negotiation failing to resolve this issue, Ivey has made the decision to file suit at the High Court in London on Tuesday, May 7th.
While commenting on the law suit Ivey is reported to say that he is sad that Crockfords has left him no other option but to move forward with legal actions after they made the decision to withhold his winnings.
He goes on to say that he has a lot of respect for Gentings which is what makes this decision so difficult.
Ivey has also said that he has won and lost a great amount at Crockfords over the years while honoring his commitments.
He was given a receipt for his winnings by Crockfords but they withheld payment and Ivey feels like he has no other option but to move forward with legal action.
Ivey’s big win was reported first by the Daily Mail where they stated that Ivey was playing £50,000 a hand Punto Banco while being accompanied by an Oriental woman. Ivey took his £500,000 gain to a £2.3 million profit after acquiring permission to increase the stakes to £150,000 per hand.
Ivey is believed to have returned to Crockfords the next night where he took his winnings to a £7.8 million profit.
Matthew Dowd of Archerfield Partners, Ivey’s Lawyer, is reported to state that it is with huge regret that Phil is forced to file legal action against Crockfords for payment of his winnings and that this is now a court matter.