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Stephensen Dinged for $2.6m

21 November 2014, By: Pokerjunkie.com
Main Event runner-up Felix Stephensen will have to fork over half of his $5m+ payout from the 2014 World Series of Poker Main Event.
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Main Event runner-up Felix Stephensen will have to fork over half of his $5m+ payout from the 2014 World Series of Poker Main Event.

Meanwhile the Pala tribe has opened the first legal online casino in the United States and have Phil Ivey's blessing.

Tax Man Cometh for Main Event Runner Up

Last week Norway's Felix Stephensen finished runner-up in the 2014 World Series of Poker Main Event. For his run, he earned $5.14 million in prize money.

Unfortunately, he won't even get half of that after taxes are taken out. According to a report Stephensen will have to fork over a hefty 50.4% of his earnings to the Norwegian government because he is a self-employed poker player.

It is not uncommon for poker players to have to pay out a sizable chunk of their earnings to their home government, but Stephensen's bill will eat a $2.6 million hole in his newly won bankroll.

Pala Tribe Opens Online Casino in New Jersey - Phil Ivey No Longer Sponsored

The Pala Band of Mission Indians has officially launched its online casino in New Jersey. PalaCasino.com is being operated in partnership with the Borgata Casino and offers general iGaming products.

The Pala are the first Native American tribe to open an online casino in a regulated market and may soon be the first to offer online poker.

Pala Poker is currently in development and the company claims it will be online soon.

Last year, Phil Ivey reportedly had signed with Pala Interactive to become a sponsored player for the site in California. In a letter released by the New Jersey Division of Gaming Enforcement on Thursday, Ivey and Pala Interactive terminated the deal in June 2014.

Despite not being on the payroll Ivey still hyped the new site. He called it a "great site" and linked out from his profile.

Pala Interactive has received a lot of heat recently from the poker community due to its CEO Jim Ryan. Ryan, a former bwin.Party CEO, was CEO during part of the time that the UltimateBet cheating scandal occurred.

While Ryan claims no knowledge, some in the poker community feel he knows more than he is revealing.

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