Poker Pro Ivey Sues Genting Unit Over $12 Million Winnings
By Kit Chellel - May 7, 2013 9:10 AM ET
Phil Ivey, nine-time winner of the World Series of Poker tournament, sued a unit of Genting Bhd. (GENT) in London over what he said was 7.8 million pounds ($12 million) of unpaid winnings.
Ivey, 37, said he won the money playing the Punto Banco game at Genting’s Crockfords casino in London last year, according to an e-mailed statement.
“Crockfords has left me no alternative but to proceed with legal action, following its decision to withhold my winnings,” said Ivey, whose career earnings from tournaments total more than $16 million, according to his statement. Ivey’s lawyer, Matthew Dowd, confirmed the suit in a phone interview.
Genting is Southeast Asia’s largest casino operator and in March bought a Las Vegas site, once home to the Stardust resort, for $350 million. Ivey lost to Andy Frankenberger, a former derivatives trader at BNP Paribas SA, in the final of last year’s World Series of Poker event.
A spokesman for Crockfords’ law firm Kingsley Napley LLP in London declined to immediately comment, and a phonecall to Genting’s Kuala Lumpur headquarters out of hours wasn’t answered.
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