Ivey Isn't Seeking $20 Million

Ivey Isn't Seeking $20 Million

Wednesday, 11 February 2015

An intriguing business post had tongues wagging in the poker community on Tuesday after it appeared as though Phil Ivey was seeking a $20 million investment for his training site.

The listing, which was posted on MergerNetwork, suggested that Ivey was seeking seed funding for Ivey League. According to the listing, the $20 million being sought by Ivey was going to be used to transform the training site into a gambling portal complete with Fantasy Sports, casino, sports betting and bingo.

However, after multiple requests for further information were fired at the company's CEO, Dan Fleyshman, he confirmed that the post was a fake.

Although he explained that the Ivey was looking to expand his business portfolio, he outlined that he wasn't in fact seeking $20 million investment.

"We are expanding the business into multiple categories but we’re not selling the business and [Phil] Ivey has self funded the mid 7 figures [put] into the company over the years," Fleyshman told Pokerfuse.

While the listing is a fake, it's certainly true that Ivey will be expanding his empire this year. After bringing Fleyshman onboard back in 2014, Ivey has hinted that his new platform, which was once a free-to-play site, will return bigger and better in 2015.

Some have suggested this means a real money gaming site, however, these assumptions have yet to be confirmed.

Tags: Phil Ivey, Dan Fleyshman