Jamie Gold Responds to $12 M WSOP Lawsuit

[Botchman]

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I don't get the sense Jamie Gold has any desire to become a high-stakes poker professional, so wtf does he care what they think?


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Did he not offer to have a HU match for 1 Mill against someone???

[Rottersod]

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If Jamie wanted to avoid looking like a tool, he could have made a statement to the media, saying, "I understand Crispin's desire to protect his share of our winnings. I have evey intention of paying out his 50% share, though I am in consultation with my lawyers to determine the most beneficial way to do so."

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No. He certainly wouldn't make a statement like that. He's worked in Hollywood long enough to know that any statements you make will come back to bite you in the ass. I agree with the other poster who wrote that this was simply a tactic by Gold to negotiate a lower settlement as he certainly didn't expect to win the 12 million. There's nothing wrong with that.

[maurile]

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Oh, the irony ... you start with the sentence, "it seems to be a fact." Did you do that on purpose?

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Of course I wrote it on purpose. Why do you think it's ironic? "It seems to be a fact" is another way of saying "it seems to be true."

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That said, in none of the articles I read on the Internet did I see where Gold has stated he was not going to pay Leyser or anyone else.

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He hasn't paid. Moreover, in his statement, Gold didn't say he was going to pay. He said he was going to resolve it in court.

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But, I tend to think that Gold is trying to tie up a lot of loose ends he has - 50% to Layser, 10% to Chan, and what percent to anyone else? ... The point that I a making is that there are very valid reasons, many dicsussed above, as to why Gold might be delayed in releasing the money.

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There are no loose ends. You're making this much more complicated than it is. If Leyser is entitled to half, then Gold won't pay taxes on Leyser's share. There's no busywork that needs to be done. The only thing that needs to be done is for Gold to authorize Harrah's to pay Leyser.

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Outside of 2p2, I haven't read a single source that says it is because he intends to keep all for himself.

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I don't think he could possibly keep it all for himself, but it's obvious to me that he's trying to pay out less than 50%.

[maurile]

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If Jamie wanted to avoid looking like a tool, he could have made a statement to the media, saying, "I understand Crispin's desire to protect his share of our winnings. I have evey intention of paying out his 50% share, though I am in consultation with my lawyers to determine the most beneficial way to do so."

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A statement like that would make no sense. Gold obviously doesn't have every intention of paying out 50% to Leyser, or else he already would have done it.

There really are no tax implications to work out. The completely brain-dead way to do it would be for Gold to take the entire $12 million (with the Rio reporting it to the IRS) and then pay out $6 million to Leyser. The only non-brain-dead way to do it is for the Rio to pay $6m to each of them. And that doesn't take several weeks to accomplish. It would have been done by now if there was no dispute as to the amount Leyser will receive.

[maurile]

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I agree with the other poster who wrote that this was simply a tactic by Gold to negotiate a lower settlement as he certainly didn't expect to win the 12 million. There's nothing wrong with that.

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That's certainly what it is. But I don't know why you'd say there's nothing wrong with it. A deal isn't a deal?

[Zetack]

Two days after the final table Gold went on the rounders show Podcast Here . He mentioned Leyster. Calls him a wonderful friend, talks about the wonderful celebrities he helped recruit for team bodog.

He says that Bodog was going to pay for his (Gold's) entry for recruiting the celebrities and he wanted Bodog to give the entry to Leyster and he was going to buy his own way in. Bodog wouldn't do that because they had a relationship with him (Gold) and also understood that he was a great poker player, like Kobe coming out of highschool and that he had a legitimate chance to win this thing.

Keep in mind this is what he said after winning. For me that suggests several things. One: In light of what we've heard now, it seems plausible that Gold said to Leyster, hey, they insist I play the seat although I've tried to get them to give it to you, so I'll play it, but you can have half of my action.

Two: him talking about his ligitimate shot to win makes it awfully hard for him to argue that the terms of the deal was something like half up to a certain amount, not half of 12 million.

--Zetack

[Toonces]

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If Jamie wanted to avoid looking like a tool, he could have made a statement to the media, saying, "I understand Crispin's desire to protect his share of our winnings. I have evey intention of paying out his 50% share, though I am in consultation with my lawyers to determine the most beneficial way to do so."

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A statement like that would make no sense. Gold obviously doesn't have every intention of paying out 50% to Leyser, or else he already would have done it.

There really are no tax implications to work out. The completely brain-dead way to do it would be for Gold to take the entire $12 million (with the Rio reporting it to the IRS) and then pay out $6 million to Leyser. The only non-brain-dead way to do it is for the Rio to pay $6m to each of them. And that doesn't take several weeks to accomplish. It would have been done by now if there was no dispute as to the amount Leyser will receive.

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It was concievable that Gold had every intention of paying it out after he made whatever arrangements he felt he needed to make, and it would also be concievable that Leyser would choose to file suit as an insurance policy that he gets paid. As many have pointed out, many lottery winners take a long time to come forward so that they get certain affairs in order before taking control of the money. My point was if Gold's delay really was just for logistical reasons, he could make such a statement. His failure to do so, makes it clear that he is trying to get out of his obligation here.

As for the argument that he couldn't hae possibly expected to win 12 mil when he made the deal, too bad. That's part of the deal. The fact is that Leyser made the deal based on an expectation of about $5000 of EV. A good chunk of that EV is packaged in the huge 1st place prize. When Leyser accepted the deal, it included a 90% probability of him getting zilch in return. Winning first place doesn't give you the right to renege on any portion of his debt.

[pineapple888]

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Two days after the final table Gold went on the rounders show Podcast Here . He mentioned Leyster. Calls him a wonderful friend, talks about the wonderful celebrities he helped recruit for team bodog.

He says that Bodog was going to pay for his (Gold's) entry for recruiting the celebrities and he wanted Bodog to give the entry to Leyster and he was going to buy his own way in. Bodog wouldn't do that because they had a relationship with him (Gold) and also understood that he was a great poker player, like Kobe coming out of highschool and that he had a legitimate chance to win this thing.

Keep in mind this is what he said after winning. For me that suggests several things. One: In light of what we've heard now, it seems plausible that Gold said to Leyster, hey, they insist I play the seat although I've tried to get them to give it to you, so I'll play it, but you can have half of my action.

Two: him talking about his ligitimate shot to win makes it awfully hard for him to argue that the terms of the deal was something like half up to a certain amount, not half of 12 million.

--Zetack

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Three: He is totally, completely, 100% FOS.

"Kobe coming out of high school." Riiiight. Gold==Douche.

[maurile]

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As many have pointed out, many lottery winners take a long time to come forward so that they get certain affairs in order before taking control of the money.

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Right, and Gold can take as long as he wants before he takes control of his share. That's fine. No problem. But there's no reason for him to instruct the Rio not to pay Leyser's share to Leyser.

I agree with the rest of your post, but I don't agree that a delay by Gold might have a rational basis other than to try to pay less than 50% to Leyser.

[thechow]

hi, my first time here. great forum. does anyone have update on status of the jamie gold case? i can't find one, so i was curious, as it went to court on 9/1.
i found jamie gold to be arrogant and obnoxious as a player. and not in an appealing way like some other pro's. so i kind of hope he has to pay out.......sounds like he made a deal and tried to back out. thanks