The 1st.

They either refund everyone or no one at all. No chance they only refund 1 or 2 starting flights and not the other(s).

I still don't understand how some of you people can't grasp the fact that the tournament, in it's entirety, was compromised and therefore cancelled; ergo, refunds should be issued to everyone who participated in any of the three starting flights.

I think those who did not cash should get their $ back, clearly. Borgata has to eat that one for their lack of controls. I'm not sure how much that comes to.. 4000*560 = 2.2 million+.

For those who are left, I don't think they can realistically "play it out". The event is over. You cannot know who in that 27 legitimately won chips from the cheaters and have more than they should have.

I think you can only pay out the remaining players based on their % of the total chips in play.

Technically I think you do because you had no chance to win...
What I think happens is all 27 get 27th place money rest of prize fund used to play us players back. Because yes they did work to get to 27 but fake chips may of helped one of the 27 get there maybe he won the chips of lusardi then he knocks guy out because he's covered him now jn. 80th place. Borgata would rather go to court with 27 then 2500

wombat:

Me too. I love chaos and excitement with constantly breaking "news flashes" featuring more arrests amid an ever widening scandal. Pour in a healthy dose of executive hand wringing along with good cops-versus-robbers police work and we've got a nice juicy scandal. (If accomplices are arrested and start turning on each other, that's even better.) The one thing that would blow this ho-hum "cheating scandal" right into the stratosphere would be for an accomplice to suddenly turn up dead, but I suppose that's hoping for too much ... That's the one reason why the UB/AP scandal never gained any traction. Unlike mafia scams - where dead bodies turn up routinely - nobody got whacked in all the internet poker cheating. The closest that got to being "dramatic" was when the airplane loaded down with too much cash crashed while attempting to takeoff and all that money went up in smoke.

I'm hoping this turns out to be the Watergate of poker cheating scandals - the one imbroglio that exposes the whole sordid mess called present day poker to the general public. So far this appears to be a minor scandal involving a single hapless "criminal" whose elevator doesn't run all the way to the top floor.

What a letdown. I was hoping for something really dramatic, like a vast international fake chip selling operation run by sinister mafia types with a lot of big time "professional" poker players involved amid totally incompetent casino operators who can't tell the difference between real chips and fake chips. Instead, it looks like we've got a moron who can't even get rid of the evidence. Potripper, Russ Hamilton, Annie Duke, and Phil Hellmuth were better than this snore. (I guess there won't be a Martin Scorcese movie coming out of this caper ...)

I'm not a plantiff attorney but have seen many on TV and Movies.

I think the salient number is the amount of the claim not the number of claimants.

Once you get over the number of claimants needed for class action status, the number is sort of irrelevant in the mind of plaintiff atty, actually fewer is prob better due to less admin), but to the defendant does it really matter?

Amount of claim will be virtually identical.

all of that prob is wasted thought though because I would guess this will be settled to the point that no one will any valid claim except for the extreme

1) I was gonna win more because I'm a boss and was on a heater

or

2) I wasted air and hotel.

those claims would prob be defended and successfully, so only thing the plaintiff atty stands to gain is 30-50% of Borgata legal fees to defend (~150K have no idea) , not the claim amount. Borgata defends that because they win (minus atty fees) and more so they have already been scammed once and aren't gonna let a plantiff atty scam them again.

Because for some players, they were already out of the tournament before it was compromised. You seem to assume that its been proven that the tournament was compromised in its entirety simply because cheating occurred. What evidence do you have of this?

If the point of compromise can be identified by the starting date the cheater(s) played, those who went out before such point should not get a refund and that money should go to the remaining 27.

I presume if you think because the tournament was cancelled, all the players should have to return the paid prizes and receive only their entries and the 27 only get their entries back?

Can you pay for drugs/prostitutes with phony money? Sure. If the receiving party doesn't realize tournament chips have zero value, why not?

Back in the day I had an acquaintance who was selling $1000 in counterfeit twentys for $300. People bought all the time. Maybe this clown was trying to do the same thing with fake Borgata tournament chips to non poker players. 'Hey I have 3k in chips, why don't you give me 3k in cash ?' It's a way to launder money/steal from unsuspecting people the same way guys took advantage of hookers in Vegas a few years back.

2.7 million is way too many to try to introduce into one tournament and he wasn't a local so I'm thinking he had a much grander plan.

It is novice to say there will be no impact on investor !!

Market price of any equity is based on
1,Past result
2,Current market situation
3, Companies ability to do similar activity or better.

Market analyst always look for how is repeat customer base and business atmosphere. 4000 Unhappy customer sure is not a good business situation.

Boyd Gaming Corporation
NYSE: BYD - Jan 27 3:23 PM ET
9.52-0.23 (-2.36%)

Borgata Board Wake Up!

Now this is getting complicated and probably would have to go to law school to answer, but remember the first decider on what the burden of proof is, will be the DGE.

I would suspect that they asked Borgata to prove all days WERE NOT compromised. Something that will be nearly impossible or impossible to prove

Boyd Gaming Corporation
NYSE: BYD - Jan 27 3:23 PM ET
9.52-0.23 (-2.36%)

Borgata Board Wake Up![/QUOTE]

Jan 17th when this chip scandal came out BYD was $10.77

It is $9.50 at present !! It is down more then 10 %.

They Lost 100 millions in market cap

Ptlou:

Actually i think its more a need to develop additional facts about the where,when, how and whom introduced the counterfeit chips vs. law school questions. And not to nitpick but you are suggesting a shifting of the burden of proof to the defendant (and to prove a negative as well) as opposed to what the burden of proof would be.

I also have no idea about the jurisdiction of the Nev. gaming commission as the final arbitrator of these types of disputes but doubt it would be binding on the players without some sort of judicial review.

Ford at 15.80

Jan 17 it was 16.52

Ford Board Wake up!

The Dow dropped 470 points since then. I don't think it was Boyd specific. Boyd had been trending downward since they reported a surprise loss last quarter.

Cmon! If he was selling the chips it was to poker players assuredly, good luck buying/selling anything here in something other than cash mid winter!

You have to realize where your at, there is no naïve glitz and glamour, it's all grit and grime. Take a step outside the casinos w/ a C rate hustle and your going to run into serious problems real fast. Look up info on the neighborhood closest to the Borg for example, 800 block/back Maryland, Stanely homes village...I really think the avg. person has no idea how it actually is here.

This. Everything is down. This chip crap has nothing to do with borgatas bottom line.

I'm thinking his plan was to play the entire series and use them in multiple events.

Just saw the story on the local news!

Unfortunately, anyone that hasn't been following this thread wouldn't see the humor here but I thought it was hysterical!

Actually it is based on what someone is willing to pay that equals the price someone is willing to sell at any given time.

If you can't know who has more than they should have, then what real justification is there for paying out these last 27 according to their % of chips in play? Better to divide the remaining pool by 27.

[QUOTE=rebuyman;41946963]Surprised to see Lusardi described by even the poker/casino media as a pro.

I have about the same lifetime winnings as recorded by the Hendon Mob. I am older but probably played way fewer hands. More to the point, I am a recreational fish who understands his significant limitations at the table.

Admittedly not everything gets into the HM database. But what makes you a pro, I wonder?[/QUOTE]

You have to wear a hoodie, take 5 minutes to make every decision, ask questions like "why so much ?", "how much you got behind ?" "do you want me to call ?" & have a menacing stare.

This makes you "pro"

Naa Zen that's not it. Now when you start pooping chips, then you are truly a "pro"

fyp

If lusardi only played in the later flights how are bustouts from 1a entitled to anything.

They bought in. Played a legit 1a and busted. They shouldn't get a dime.

Wow, how can you say that before the complete results of the investigation are released. If Borgatas security was ruled completely incompetent for example couldn't it be argued all players were in an unfair spot. And deserve atleast the 60 back.

Or if players separate from lusardi introduced chips earlier then shouldn't earlier players from when Lusardi played be given financial reimbursement.

Not that I will def disagree with you after the investigation is fully complete but isn't it still too early to make your statement.