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World Series of Poker Champion Jamie Gold Settles $6 Million Lawsuit
Wed, Feb 7th, 2007 @ 12:00am
Reigning
World Series of Poker champion
Jamie Gold agreed to an out-of-court settlement with Bruce
Crispin Leyser. Terms of the agreement, tentatively reached on Friday,
February 2nd, were not disclosed.
This week, a District Court judge in Las Vegas is expected to approve the final settlement which will free up $6 million which had been frozen by an injunction, issued in September last year. Half of Mr. Gold's $12 million in poker winnings has been held at the Rio Casino in Las Vegas.
The settlement ends a six-month dispute between Mr. Gold, who won the 2006 World Series of Poker, and Mr. Leyser, who was reportedly promised half of the top prize.
The lawsuit began when Mr. Leyser, a television company executive, made a verbal agreement with Mr. Gold prior to the start of poker's world championship event. The agreement was reiterated in a brief telephone call between the two men which took place shortly before the final day of tournament.
In both exchanges, Mr. Leyser alleged that Mr. Gold agreed to split whatever prize money was won.
Following his Cinderella-like poker victory, Mr. Gold reportedly made attempts to set up a corporation in Nevada, which would handle the disbursement of winnings.
When that process took longer than expected, Mr. Leyser filed a civil lawsuit against Mr. Gold in Las Vegas District Court, seeking a $6 million judgment. Since then, the case has made headlines in Las Vegas, and elsewhere.
According to terms of the final settlement, neither party is permitted to discuss the amount of money ultimately paid to Mr. Leyser, nor the specifics of the case. However, Mr. Leyser is expected to receive a significant part of the $6 million in question and will be permitted to collect his share of the winnings within days of the court's final approval of the settlement.
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