Daniel Cates and Illya Trincher file an objection to Borgata withholding Ivey’s PPC winnings.
The high-profile case between living legend, Phil Ivey and Borgata Hotel Casino & Spa took another twist, after Daniel ‘Jungleman12’ Cates and Illya Trincher filed an objection to Borgata withholding Ivey’s $124,410 winnings from the Poker Players Championship.
As it’s very well-known Ivey owes Borgata over $10 million, he won playing Baccarat by using an edge-sorting technique. The two high-stakes players claim, they fully staked Ivey in the event, and should, therefore, be entitled to 50% of his winnings, $87,205. According to their agreement, Cates and Trincher both gave Ivey $50,000 to enter the event, which Phil managed to make a deep run in.
The well-known legal firm, Chesnoff and Schonfeld represents Cates and Trincher. The firm is specialized in gambling matters and has also represented Ivey in the past.
Part of the objection, submitted by Richard A. Schonfeld, reads:
"Mr. Cates and Mr. Trincher had an existing staking agreement with Mr. Ivey. On or about June 24, 2019, Mr. Cates and Mr. Trincher agreed to provide Mr. Ivey with the full $50,000 buy-in for a World Series of Poker tournament at the Rio Hotel and Casino in Las Vegas, Nevada, specifically the $50,000 Poker Players Championship (Event #58) on June 24, 2019, in exchange for 50% of the winnings (in addition to the return of our $50,000 principal). On or about June 24, 2019, Mr. Trincher provided Mr. Ivey with said $50,000 for the buy-in pursuant to their existing staking agreement. In said chat exchange on or about June 24, 2019, at approximately 4:04 pm, Mr. Trincher sent a message to Mr. Cates which stated that Trincher “Gave Phil 100 for tournament total so far (50 for today).” This chat evidences that Mr. Cates and Mr. Trincher provided Phil Ivey the full $50,000 buy-in pursuant to the terms of their existing staking agreement."
According to legal experts, Borgata can easily claim that Ivey sold his action, knowing Borgata would try to withhold his winnings, while Cates and Trincher could also have known about Ivey’s situation, due to its high profile nature.
A screenshot of a chat between Illya and Daniel also saw daylight in which the two are discussing the details of the staking agreement. According to the picture, they speculated about staking Ivey for cash games as well.
While no one knows the exact details behind the story, it’s safe to say that Cates rolls pretty high, while Ivey has serious financial problems.
Illya Trincher
