Phil Ivey Sits Out 2011 WSOP and Sues Full Tilt Poker

The 2011 World Series of Poker kicked off on Tuesday and Day 1 is a realatively uneventful day in the grand scheme of the entire series.  Day 1 sees the $500 Employees Event wind through its first day and this year, the $25,000 Heads-Up Championship played down to 32 players.  However, it was an announcement by Phil Ivey on his Facebook page that became the big news of the day.

Looks like Full Tilt no longer has the stare at their dispensal.

Phil Ivey released the following statement Tuesday regarding Full Tilt Poker and the 2011 WSOP:

“For many years, I have been proud to call myself a poker player. This great sport has taken me to places I only imagined going and I have been blessed with much success. It is therefore with deep regret that I believe I am compelled to release the following statement.”

“I am deeply disappointed and embarrassed that Full Tilt players have not been paid money they are owed. I am equally embarrassed that as a result many players cannot compete in tournaments and have suffered economic harm.”

“I am not playing in the World Series of Poker as I do not believe it is fair that I compete when others cannot. I am doing everything I can to seek a solution to the problem as quickly as possible.”

My name and reputation have been dragged through the mud, through the inactivity and indecision of others and on behalf of all poker players I refuse to remain silent any longer. I have electronically filed a lawsuit against Tiltware related to the unsettled player accounts. As I am sure the public can imagine, this was not an easy decision for me.

I wholeheartedly refuse to accept non-action as to repayment of players funds and I am angered that people who have supported me throughout my career have been treated so poorly.

“I sincerely hope this statement will ignite those capable of resolving the problems into immediate action and would like to clarify that until a solution is reached that cements the security of all players, both US and International, I will, as I have for the last six weeks, dedicate the entirety of my time and efforts to finding a solution for those who have been wronged by the painfully slow process of repayment.”

The lawsuit mentioned in Ivey’s statement was filed on Wednesday in Clark County District Court.  Essentially, Ivey is seeking to get out of his non-compete agreement with Full Tilt Poker and is seeking damages of $100 Million.

On Wednesday night, Full Tilt Poker released the following statement regarding the Ivey suit:

“Contrary to his sanctimonious public statements, Phil Ivey’s meritless lawsuit is about helping just one player – himself. In an effort to further enrich himself at the expense of others, Mr. Ivey appears to have timed his lawsuit to thwart pending deals with several parties that would put money back in players’ pockets. In fact, Mr. Ivey has been invited — and has declined — to take actions that could assist the company in these efforts, including paying back a large sum of money he owes the site. Tiltware doubts Mr. Ivey’s frivolous and self-serving lawsuit will ever get to court. But if it does, the company looks forward to presenting facts demonstrating that Mr. Ivey is putting his own narrow financial interests ahead of the players he professes to help.”

Many have speculated that Ivey’s lawsuit may actually hurt Full Tilt in their efforts in repaying player funds after the April 15th Black Friday indictments.  Full Tilt recently revealed that they were trying to raise capital in order to pay back funds, and from the statement by Full Tilt, it is possibly that Ivey has potentially hindered that process.

Whether Ivey is indeed trying to help out players or cover his own assets remains to be seen.  However, it is safe to assume that after this matter is resolved, we have likely seen the last of Phil Ivey as a member of Full Tilt Poker.

Popularity: 1% [?]

Related posts:

• Phil Ivey Returns to Live Poker After going into self imposed exile from the poker world near the end of May, Phil Ivey has reappeared after entering the Asia Pacific Poker Tour Macau Main Event on Wednesday.  Ivey is a former sponsored pro and shareholder of...
• Full Tilt Reportedly Sold to European Investors On Wednesday, the Alderney Gambling Control Commission suspended Full Tilt Poker’s license to run their online poker.  Now, a report out of the Los Angeles Times claims that the company is set to be purchased a group of European investors. ...
• Should Full Tilt Players Wear Their Patch at the 2011 WSOP There has been a lot of debate as to whether Full Tilt pros should have worn their patches during the 2011 World Series of Poker.  Some say that wearing the patch is fine since they are not the ones directly...
• Full Tilt Facing Yet Another Class-Action Lawsuit Full Tilt Poker’s legal troubles continue to pile onto them.  In a story released on Thursday in the Los Angeles Times, Full Tilt Poker is facing yet another class-action lawsuit against them.  This current complain is seeking $900 Million in...
• Full Tilt Poker Releases Statement on Financial Situation Full Tilt Poker has released their latest statement regarding their financial situation.  This time, they released the statement to PokerStrategy.com.  The statement is below: “On April 15th 2011 the United States Department of Justice unsealed a federal indictment against a...