You gotta know when to fold ’em….

High-stakes gambler RJ Cipriani — who filed a bombshell lawsuit against top Paramount Skydance executives that resulted in the humiliating ouster of president Jeff Shell — has quietly settled with the studio.

The legal detente brings to a close one of the wildest chapters in recent Hollywood memory, in which the Vegas and LA fixture sued Shell for $150 million, claiming in legal documents that the former studio topper allegedly reneged on the promise of a reality show and shared confidential company information involving 10-figure “South Park” and UFC deals, as well as Larry and David Ellison‘s efforts to acquire Warner Bros. in the process.

Shell quickly countersued, claiming he was the victim of a shakedown attempt by “an inveterate gambler” who “overplayed his hand,” and alleged he faced death threats over the “South Park” situation.

Cipriani then upped the ante, adding a who’s-who of defendants, including the billionaire Ellisons as well as RedBird CEO Gerry Cardinale. The spiraling legal battle put a bevy of powerbrokers in the crosshairs, including Ari Emanuel (as well as a pal and former roommate of the super agent’s who went by “Tango.”)

By the time the dust settled, Shell was out of a job, having apparently come out on the wrong side of an internal investigation examining whether or not he spilled secrets to the Sin City blackjack player.

Sources tell Page Six Hollywood that no money will change hands between the Cipriani and Shell, or the Ellisons. But that’s not to say that no money changed hands at all. A source familiar with the legal drama says Cipriani likely scored a seven-figure payout — not directly from the studio or Shell, but via a third-party attorney.

That would coincide with Page Six Hollywood’s exclusive reporting on the topic, where we got our hands on a proposed settlement agreement between Cipriani and Hollywood power attorney Patricia Glaser.

That document was dated Feb. 28, days before Cipriani filed his headline-grabbing suit against Shell.

According to the proposed settlement, Cipriani would be paid seven figures and, in exchange, would indemnify the very same people he’d go on to sue days later, including the Ellisons. Glaser’s involvement as a party to the settlement was curious, to say the least: She has repped Cipriani in recent years and was also Shell’s attorney until Feb. 25. The document was signed by her, but Cipriani’s line was blank.

Cipriani and Shell did not respond to a request for comment. A spokesperson for Paramount Skydance said, “I’m looking into it,” when asked if the parties reached a settlement. And there were similarly crickets from Glaser and attorney Steven Aaronoff, who filed the initial lawsuit on Cipriani’s behalf back on March 9. (It is unclear if Aaronoff is still Cipriani’s lawyer.)

According to documents filed this week in Los Angeles Superior Court, Cipriani entered a request for dismissal with prejudice, meaning that he is legally barred from refiling the same claim in any court. Similarly, Shell requested that his countersuit be dismissed with prejudice.

Still, the proposed settlement agreement draft from Feb. 28 may offer a window into what the parties will do moving forward.

That document mentions “a comprehensive confidentiality provision such that among other things each party, if inquiry is made, may only reply NO COMMENT.” It further stipulates that, “the long form settlement agreement will also contain a provision regarding mutual non-disparagement” and “a liquidated damage provision in the amount of $250,000 should a party breach the confidentiality provisions.”

Back when Cipriani still could talk, he shared with us some ideas on who should play him onscreen for the inevitable movie. “Bradley Cooper, who I’ve been talking, texting and emailing with for over two years.”

Cipriani said. “Bradley’s from Philly, he loves his mom deeply like I do, he has the Philly swagger and he’s the only one I see playing me. Period. The end.”

As for who should play Shell, the man he sued for $150M, Cipriani couldn’t land on an actor, so, he picked, “Shell himself.” Huh? Cipriani explained: “He’ll need another job as an actor after I get done with him.”

One lawyer who has watched the case closely estimates that Cipriani got what he previously was offered in the proposed settlement agreement, “plus something for his wife on an overall deal that if she’s not used there is some money from the company. The timing of eliminating the noise [ahead of a Paramount-Warner Bros. merger deal] was fortuitous.” (Cipriani’s wife is “Jane the Virgin” actress Greice Santo, a former client of Glaser as well.)

Another person familiar with similar settlements estimates that Cipriani is taking home at least $2 million. That figure would be in line with what Charlotte Kirk received in a settlement with former Warner Bros. CEO Kevin Tsujihara over a sex scandal that brought down the studio head.