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Billy Walters Received Insider Information Via ‘Bat Phone,’ Jury Hears

Billy Walters Received Insider Information Via ‘Bat Phone,’ Jury Hears

Former president of Dean Foods Thomas Davis told a Manhattan court that is federal Tuesday which he regularly shared privileged insider information concerning the company with Vegas sports betting legend Billy Walters.

Sports betting Billy Walters faces multiple costs of wire fraud and securities fraud.The alleged source of insider information, his former buddy, Thomas Davis, testified against him this week.

The set would communicate via particularly designated prepaid cellphones which they called their ‘bat phones,’ Davis said.

Walters is on trial accused of profiting from illegal stock market trades on Dean Foods, a company that is dallas-based certainly one of the greatest processors of milk in the US.

It’s also alleged that Walters shared insider information, obtained from Davis, with their friends, including the golfer Phil Mickelson, who is scheduled to be called as a witness for the protection.

Innocent Fulfilling

Davis said that the partnership had started ‘fairly innocently’ after the pair met at a California course in the mid-nineties. He was happy sufficient to offer the occasional stock market tip in the hope he’d get some sports betting advice in exchange, he said

But the nature of this relationship changed whenever Davis borrowed almost $1 million from Walters. After that, it ‘grew to a place where I had been a conduit that is virtual for inside information, he said.

‘I became indebted to him,’ he stated. ‘He became more demanding of information.’

Davis said he offered Walter business secrets through the Bat Phone for over seven years, until 2014, including earnings information and upcoming crucial transactions.

He gave testimony this week as part of a plea deal with federal prosecutors, after admitting charges including securities fraud and wire fraud.

Walters Made $40 Million on Trades

Davis initially denied involvement as he ended up being approached by federal agents in 2014. Authorities’ suspicions was aroused after it emerged Walters had made over $40 million on trades on Dean Foods over the years, including around $17 million between May 2012 and August 2012 alone.

After their check out, Davis threw his bat phone right into a creek, he said, but later on decided to come clean after he suffered a stroke and realized the impact the investigation had been having on his family members and himself.

‘I used very poor judgment and I also was scared to death I wanted to cover it up,’ he said that I had made some terrible mistakes and. ‘I lied to everybody.’

Mickelson will not be charged by having an offense, he earned in 2012 on one of Walters’ trading tips although he did return $1 million.

Walters pleads not guilty and his lawyer contends Davis is lying.

Alabama Legislators Attempt to Pass Regular Fantasy Sports Bill

Proponents of legalizing Daily Fantasy Sports in Alabama are hoping a number that is traditionally unlucky their fortunes.

Their state legislature is debating three various bills and if one passes, it could make them the state that is 13th the US to enable its residents to take part in DFS.

Alabama has three separate bills in the legislature proposing that Daily Fantasy Sports be legalized. (Image: Associated Press)

Up until May 2016 residents were able to engage at sites such as Draft Kings and Fan Duel. Luther Strange, the attorney general turned US Senator, stated it was an activity that is illegal sent cease and desist letters to the organizations.

Whenever someone clicked on those sites they don’t see the landing page, but instead an email that said, ‘We’re sorry, but your location that is current prohibits from making deposits or playing on FanDuel.’

Fans immediately started to call their state representatives and senators to protest and urged them to take action.

Age Old Argument

The debate on DFS is whether it’s gambling or skill as well as the conversation has been lively.

Sen. Tom Whatley (R-Auburn) whom is sponsoring certainly one of the bills said knowledge is key to success in the contests. He told AL.com that it is far different than other types of wagering.

‘To me personally, we don’t notice it as the exact same type of gambling that i am opposed to in yesteryear like the casino-type of gambling,’ Whatley said. ‘It’s about the skills of picking teams that are playing once a day or a couple times per week.’

Alabama Citizens Action Program, a business funded by churches that opposes gaming of any kind, is fiercely opposed to it.

‘It’s nothing like league play or season-long play between friends and family,’ Executive Director Joe Godfrey stated. ‘This is daily fantasy recreations. It’s a big time gambling operation.’

Patterned After Neighbor’s Law

Associated with three bills, HB 354 seems to have the most useful odds of passing. The legislation is modeled after a recently approved Mississippi law and would begin a plan that would manage the industry.

Operators would have to pay for a registration fee of $85,000 should they had more than 5,000 accounts and $10,000 if less than that figure. The revenue tax is six per cent and companies will have to submit annual audits that is financial.

Other provisions could be an age restriction of 19 or older and contests could only be on professional activities.

Casino Smoking Bad for the physical Body, but No Smoking Bad for company, Harrah’s brand New Orleans Says

Casino smoking inside Harrah’s New Orleans has been banned since April of 2015, so that as the two-year anniversary of the clean-air regulation approaches, representatives for the gambling venue are exposing just exactly how expensive the ban was.

Harrah’s New Orleans would enjoy nothing a lot more than to eliminate their no casino smoking signs, once the ban is drastically hurting gaming revenue. (Image: smokefreecasinos.org)

Smoking is unquestionably bad for the body, but no cigarette smoking is apparently bad for business. That’s the story being presented by Caesars Entertainment President Mark Frissora this week in Louisiana.

Speaking at the Riverboat Economic Development and Gaming Task Force meeting on March 21, Frissora said Harrah’s New Orleans has lost nearly $70 million since the ban has been implemented.

The Caesars CEO pointed to $342 million in gaming revenue in 2014, followed by $307 million in 2015 and just $273 million in 2016 during a presentation. The annual decreases represent $35 million and $34 million for a loss that is total of69 million.

Caesars Entertainment is the parent organization to Harrah’s. Along with its New Orleans property, the organization owns Horseshoe Bossier City and Harrah’s Louisiana Downs, both found in the northwestern an element of the state.

Courtyard Gaming

Since 2007, all workplaces and restaurants in Louisiana were smoke-free, nevertheless the continuing state legislation does not extend to casinos and bars. The Big Easy changed that two years ago.

Unlike the others of Louisiana’s land-based and riverboat gaming venues where smoking remains appropriate, Harrah’s New Orleans will be forced to adhere to a city code that outlaws all smoking and vaping inside casinos. Outdoor smoking lounges had been founded for patrons, but income very nearly immediately left the building too.

Meanwhile, video gaming income at gambling enterprises located outside the populous city restrictions, the Boomtown brand New Orleans riverboat for example, has increased since 2015. ‘It’s not fair because everyone else around us doesn’t have the cigarette smoking ban,’ Frissora told the committee.

The town threw Harrah’s New Orleans a bone when the casino was allowed by it to include 63 slots in its smoker-friendly courtyard. But with losses totaling nearly $70 million in two years, that is not also one gaming machine per million dollars.

However, the designated video gaming courtyard is the initial of three set to open.

Lighting a Fire

Smoking and gambling go together like America and apple pie, which is the reason why Louisiana Gaming Task Force Chairman Ronnie Jones believes the ban is working against the reason for having legalized gambling in New Orleans.

Harrah’s brand New Orleans has directed more than $1.2 billion in gaming taxes to your state as it exposed in 1999. It’s additionally compensated $300 million in rent payments to the populous city, and raised over $8 million for Hurricane Katrina relief.

By all records, Harrah’s is a strong partner to New Orleans.

Harrah’s forecasts 2017 gaming profits comes in at $270 million, a cry that is far the $342 million it collected in 2014. ‘ I’m not a scientist, but the smoking is thought by me ban had an effect,’ Jones explained.

While supporters of the clean-air code say the healthiness of Harrah’s workers is more critical than the casino’s bottom line, Frissora explained that he just desires a level playing field that is regulatory.

North Korea Casino Cruise Liner Invites Foreign Investors to Come Aboard

A North Korea casino ship is attempting to set sail through the Mount Kumgang tourist region to Southern Korea as well as other Asian nations. The Kumgang Special International Tourism Zone is just a unique section of the reclusive totalitarian country that is charged with raising tens of vast amounts for Kim Jong Un’s government.

Visitors permitted to enter the nation’s Mount Kumgang tourist region already arrive via ships, but now the isolated regime wants foreigners to choose North Korea casino cruise line. (Image: Carlos Barria/Reuters)

Tourism and outsider access to North Korea is heavily limited, but each year a limited number of visitors are permitted under close supervision. Mount Kumgang is one such area foreigners can travel, and now the nation is looking to debut a casino cruise to the location.

But so that you can do this, North Korea is attractive to international investors in trying to raise $20 million for the project.

In a proposal to possible investors in shoddy English, the nation explains, ‘we have been attempting to diversify international myfreepokies.com tourism during the world-renowned Mount Kumgang. By using the cruise ship, we will diversify tourism that is international of Kumgang, that is famous mountain of world.’

‘The passenger ship is going to be built with various facilities to allow 1,000 travelers doing cultural and safe travel in the ocean,’ the notice hypes.

Never expect billionaires Steve Wynn or Sheldon Adelson to come running.

‘I strongly question there is going to be foreign investors whom are ready to invest cash in North Korea,’ Lim Eul-chul, a teacher at South Korea’s Kyungnam University, told London’s Financial Times.

North Behind NY Fed Heist?

According to sources talking to the Wall Street Journal, the United States believes North Korea was behind the successful $81 million cyber bank heist from the Federal Reserve Bank of New York year that is last. The funds were swindled from the Bangladesh account, with some for the ill-gotten money being laundered through at least two casinos in the Philippines.

The WSJ says federal authorities have reason to credit the theft to North Korea while the US remains under the impression that Chinese operatives carried out the hacking.

On 5, 2016, hackers scheduled transfers totaling nearly $1 billion from the Bangladesh Central Bank for ‘international settlements’ set to be deposited into various accounts around the world february. After $81 million was successfully withdrawn, a spelling error caught the attention of Deutsche Bank and prompted the financial institution to verify the transaction with Bangladesh officials.

As opposed to ‘Shalika Foundation,’ the recipient was spelled ‘Shalika Fandation.’

Headed Towards War?

The eyes of world leaders are fixated on North Korea, as the nation is reportedly close to introducing another nuclear test. Last month, Jong Un’s military conducted its first missiles that are ballistic since President Donald Trump took office.

US Secretary of State Rex Tillerson has said the Obama administration’s ‘wait-and-see’ approach is over in regards to North Korea. Jong Un has made no key about his wishes to obtain or build a weapon that is nuclear of reaching america.

White House Press Secretary Sean Spicer said this week that the situation is ‘grave and escalating.’ Yet another reason why foreigners that are fewn’t expected to be too keen on going in for a casino cruiseship in North Korea.