7:00pm: Dinner break
The players are now taking a thirty-minute dinner break with play set to recommence at 7:30pm local time. Here are the approximate chip counts at the break:
Marcel Schreiner: 840,000
Matty Yates: 703,000
John Waterman: 698,000
Carl Knox: 126,000
6:50pm: Yates thinks twice
Matty Yates raised to 36,000 from the cutoff before Marcel Schreiner three-bet to 88,000 in the small blind. Yates called and the flop landed 2♣7♠K♣.
Schreiner led out for 82,000 and Yates went deep into the tank. He doesn't tend to act too quickly at the best of times, but on this occasion Yates gave it plenty of thought, even cutting out 220,000 and putting it in front of his stack in preparation for a raise. But in the end, he thought better of it and let it go.
Schreiner jumps back into the lead with 780,000, with Yates slipping to 725,000.
6:45pm: School of hard Knox
We're still four-handed here at the APPT Queenstown Snowfest Main Event as the short-stacked John Waterman has once again found a double up to stay alive.
Waterman has got his money in good for most of the day, but this time he had to come from behind to survive.
Carl Knox was the unlucky one on this occasion after he opened to 32,000 from the button. Waterman made it 116,000, Knox moved all in and Waterman made the call for his last chips.
Waterman was dominated but caught his king on the board of 9♣T♠3♦K♥2♦. Waterman doubles to 720,000 with Knox now in trouble with just 156,000.
6:35pm: Waterman swims on the river
For the first time today, John Waterman was caught shoving all in with a weak hand, but he's managed to spike a river pair to survive, and with a name like Waterman, we would expect nothing less on the river!
Waterman shoved his last 145,000 from the small blind with 9♦6♦ as Marcel Schreiner made a nice call in the big blind with A♣5♠.
The flop was a bare J♦K♠5♣ but the 8♦ turn card was almost as good as it gets for Waterman as he picked up both straight and flush outs to go with his pair outs with one card to come. Indeed he connected, as the 6♥ gave him a pair of sixes which was enough to double through to 298,000. Schreinder sits with 680,000.
6:30pm: Waterman out-kicked
John Waterman raised to 32,000 from the small blind and Marcel Schreiner made the call in the big blind as the two went heads-up to a flop of 3♣Q♥6♦.
Waterman followed up with a bet of 43,000 and Schreiner called with the J♦ hitting the turn. Both players checked and the river was the 9♥. Waterman made it 56,000 to see and Schreiner paid to see in one of the few showdowns of the past hour.
Waterman revealed 8♦6♥ for a pair of sixes but he found himself narrowly out-kicked by Schreiner's T♣6♣. Waterman is back on the short stack with 169,000 as Schreiner recovers to 770,000.
6:20pm: Kiwis back on top
From the cutoff, Marcel Schreiner opened to 33,000 with Matty Yates and John Waterman calling in the blinds. The flop of 7♥Q♦2♥ saw action check to Schreiner who bet 43,000. Yates called as Waterman hopped out of the way as the 2♦ hit the turn.
Both players tapped the table and the river brought the 6♠. Yates led out for 62,000 and Schreiner decided to let it go, to the delight of the restless Kiwis on the rail sweating the action.
Yates is up to 885,000 and back in front as Schreiner slips to 630,000.
6:10pm: Knox knocks off some chips
The action folded to Marcel Schreiner who raised to 36,000 from the small blind before the flop. Carl Knox called the big blind, then called Schreiner's bet of 38,000 after the flop of 9♣A♦4♣.
Both players then checked down the turn of the J♠ and the river T♣ before showdown.
"Fives," mumbled Schreiner, but he mucked after Knox quickly tabled A♣7♥. Schreiner slips to 622,000, while Knox is up to 520,000.
6:00pm: Level up, blinds 8,000-16,000, ante 2,000
5:58pm: Yates evens it up
It's tight at the top as Matty Yates and Marcel Schreiner are now neck-and-neck for the chip lead.
Yates ate away at the lead of Schreiner after opening to 25,000 from the cutoff. Schreiner three-bet to 60,000 from the small blind but Yates re-raised to 173,000. Schreiner thought briefly but folded as both players are now hovering around 740,000 chips.
5:55pm: Yates chips up
After four walks in a row, John Waterman raised it to 24,000 from the cutoff and Matty Yates made the call in the big blind to see a flop of 7♦J♠Q♦. Both players checked and the turn brought the 5♥.
Yates checked and Waterman bet 45,000, however Yates came back with a check-raise to 105,000. The price was too steep for Waterman as he let it go. Waterman is on 415,000 with Yates up to 670,000.
5:45pm: Playing the rush
In a battle of the blinds, John Waterman raised it up to 26,000 and Marcel Schreiner defended his big blind with a call. The flop landed 6♠3♣4♥ and Waterman bet 26,000. Schreiner called and the action got heavy on the 8♦ turn.
Waterman checked and Schreiner bet 35,000. However Waterman wasn't done with just yet as he put in a rare check-raise to 90,000. It was enough to force a fold as Waterman plays the rush. He's up to 430,000 with Schreiner still in front with 875,000.
5:40pm: Waterman's dominant double
The fairytale run of John Waterman in this tournament is far from writing its final chapter as the PokerStars freeroll winner has landed another big double up.
Matty Yates completed from the small blind before Waterman moved all in for approximately 160,000 in the big blind. Yates quickly called and opened A♦J♦ but once again Waterman tabled a monster with his dominant A♣K♥.
The flop of Q♦3♠6♦ brought a diamond sweat but the 5♥ turn and Q♣ river bricked the board to see Waterman double up to 340,000. Yates is back down to 620,000.
5:30pm: Knox flipping good
Carl Knox opened from the button to 24,000 and Matty Yates called before John Waterman announced himself all in from the big blind. Knox also declared himself all in as Yates stepped aside.
Knox would need to win this coin flip to stay alive and he did just that as the board landed J♠5♣9♠4♣6♣. Knox doubles to 480,000 with Waterman back on the short stack with 140,000.
5:20pm: Coin flip for Knox
Tournament fate can often be decided by the flip of the coin. Sometimes literally.
Carl Knox opened with a raise to 24,000 from the button before John Waterman moved all in for a total of 264,000 in the big blind. Knox was pained by the decision and thought for several moments before reaching for a coin and tossing it the air.
We're not sure whether he wanted heads or tails, but the result was that his cards were sent sailing into the muck.
5:10pm: Waterman ships
John Waterman raised it up to 25,000 from the button and Carl Knox called in the big blind to see a flop of T♣T♦8♣.
Knox led out with a bet of 28,000 but Waterman moved all in over the top. Knox thought for a moment but released as Waterman raked in the pot. The PokerStars freeroll qualifier continues his epic run as he's sitting with 288,000 chips. Knox is back to 272,000.
5:00pm: Play resumes
Our final four are back in their seats, with the title, trophy and cash almost within reach! The approximate chip counts at the break are as follows:
Marcel Schreiner: 945,000
Matty Yates: 844,000
Carl Knox: 264,000
John Waterman: 248,000