Daniel Cates Lost $5 Million in Nosebleed Games in Manila

daniel-catesWhile hundreds of players were vying for the APPT title events at City of Dreams, Manila, Phil Ivey, Tom Dwan, and Daniel Cates were flipping cards in nosebleed games in the city. The trio was also playing the 6+ Hold’em which Ivey and Dwan has been promoting in Asia for last few months. After playing the high stakes games which went upto HK$20,000/$40,000/$80,000 (approx. $2,500/$5,000/$10,000) for over 10 days, Cates is reportedly down by $5 million.

Cates, also popular as Jungleman (online poker alias) has been a high stakes cash game player at the online felt. Around the same dates in August 2014, he surpassed $10 Million in winnings on Full Tilt Poker. On Thursday, Aug 13, Cates tweeted about his losses in the nosebleed games in Manila.

Manila’s Solaire Resort and Casino has become the epicenter of high stakes games in Manila as big poker action seem to migrate from Macau. Several Asian businessmen (undisclosed names) have been hitting the poker tables at Solaire to play nosebleed games.

As the 2nd half of Cates’ tweet read, he will be grinding online and will get back to the big game very soon.