The Borgata Counterfeit Chips Scandal reached its climax yesterday after New Jersey gaming regulators released a statement regarding the much talked about opening tournament of the 2014 Borgata Winter Poker Open.
The tournament was cancelled with 27 players still fighting for the big first-place prize after the casino discovered over 800,000 worth of counterfeit tournament chips in play. So far, one suspect, Christian Lusardi of North Carolina, has been arrested.
Three months after the cancellation, the New Jersey Division of Gaming Enforcement issued a final order which obliges the Borgata Casino to refund the $1,433,145 prize pool left in play when the tournament was called off.
Therefore, according to the order, a total of 2,143 players who “may have been impacted by the alleged criminal conduct” and didn’t finish in the money will get their buy-ins back including the casino rake for a total of $560.
The 27 players who were still active at the time of the cancellation will receive $19,323 each, more than double the minimum prize of $8,140 paid to whoever would have finished between 19th and 27th place, but much less than the first place prize of $372,123.
Moreover, the 423 players who finished in the money and received a total of $892,690 will retain their prizes.
To answer player questions, Borgata Casino has opened a hotline (609.317.1000) that deals with the eligibility concerns. All the participants entitled to the refund of their buy-in will receive a check within ten working days.