Andy Beal loses $16.6 million to Phil Ivey and “The Corporation”
Andy Beal loses $16.6 million to Phil Ivey and “The Corporation”
Billionaire banker Andy Beal and pro player Phil Ivey have concluded their super high-stakes heads-up Limit Texas Hold’em battle at the Wynn Las Vegas.
According to reports, Ivey championed Beal after three days of intense play and took $16.6 million of his dollars on behalf of “The Corporation,” a group of top players that includes Doyle and Todd Brunson, Ted Forrest, Johnny Chan, Jennifer Harman, Chau Giang, and Minh Ly, among others.
Beal and The Corporation have been embroiled in an on-again, off-again high-stakes rivalry since 2001 when Beal issued a challenge to the world’s best poker players, urging them to compete in a series of private Limit Texas Hold’em games at the Bellagio.
Ivey Wipes Beal Out
The Corporation, a group of about 15 pros led by legendary player and World Series of Poker record-breaker, Doyle Brunson, accepted the billionaire Texan’s challenge and pooled their bankrolls to take on his massive stake.
This month’s series of games comprised the latest installment of the ongoing competition, and last week’s match concluded the most recent battle.
No unaffiliated spectators were allowed in the high-stakes area to watch the games unfold, resulting in the proliferation of second-hand reports throughout the online poker world. Facts and figures are largely based on word of mouth and random interactions with members of The Corporation.
The heads-up game, which reportedly began Feb. 21, set the limits at $30,000 – $60,000, lower than the previous weeks’ $50,000 – $100,000. By the time play ended at 7 p.m., Ivey was rumored to be up by about $2 million.
Limits remained at the $30,000 – $60,000 level when the match resumed Feb. 22. The day ended after 8 hours, and Ivey was up $4.6 million.
On Feb. 23, the final day of competition, Beal and Ivey met in the morning to resume their game. This time, the blinds were set at $25,000-$50,000, increasing the limits to $50,000-$100,000. The game went on until early afternoon, at which point it was disband.
Reports later revealed that Ivey had amassed a stack of $16.6 million, recouping the original $10 million The Corporation was rumored to have lost to Beal earlier in the month, and adding an additional $6.5 million to their collective bankroll.
For information relating to the earlier matches in the heads-up series, please see Beal Takes On The Corporation, Again and Beal Returns To Wynn For Rematch.
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