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

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

Sports betting Billy Walters faces multiple charges 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 specially designated prepaid cellphones that they called their ‘bat phones,’ Davis said.

Walters is on test accused of profiting from illegal stock market trades on Dean Foods, a company that is dallas-based one of the largest processors of milk in america.

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

Innocent Fulfilling

Davis said that the connection had started ‘fairly innocently’ after the pair met at a California golf course into the mid-nineties. He had been happy sufficient to offer the stock that is occasional tip into the hope he’d get some sports betting advice inturn, he said

But the nature associated with the relationship changed when Davis borrowed almost $1 million from Walters. After that, it ‘grew to a place where we was a conduit that is virtual for inside information, he said.

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

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

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

Walters Made $40 Million on Trades

Davis initially denied involvement when he had been approached by federal agents in 2014. Authorities’ suspicions had been 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 see, 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 ended up being having on his household 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 is not charged by having an offense, although he did return $1 million he earned in 2012 on one of Walters’ trading guidelines.

Walters pleads not liable and their lawyer contends Davis is lying.

Alabama Legislators Attempt to pass through Regular Fantasy Sports Bill

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

Hawaii legislature is debating three different bills and if one passes, it would make them the 13th state in the US to allow its residents to engage 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 stop and desist letters towards the businesses.

When someone clicked on those sites they did not see the landing page, but instead an email having said that, ‘We’re sorry, but your present location prohibits you from making deposits or playing on FanDuel.’

Fans immediately began to phone their state representatives and senators to protest and urged them to do this.

Age Old Argument

The debate on DFS is whether it’s gambling or skill plus the discussion is lively.

Sen. Tom Whatley (R-Auburn) who is sponsoring one of the bills stated knowledge is key to success in the competitions. He told that it is far different than other kinds of wagering.

‘To me, we don’t notice it as the same type of gambling that I’ve been opposed to in yesteryear for instance the casino-type of gambling,’ Whatley stated. ‘It’s about the skills of picking teams that are playing once an or a couple times a week. time’

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

‘It’s not like league play or season-long play between friends and family,’ Executive Director Joe Godfrey said. ‘This is daily fantasy recreations. It’s a big time gambling procedure.’

Patterned After Neighbor’s Legislation

Associated with three bills, HB 354 seems to have the most readily 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 a registration fee of $85,000 when they had over 5,000 accounts and $10,000 if significantly less than that figure. The revenue tax is six % and companies would have to submit annual audits that is financial.

Other provisions is an age limit of 19 or older and contests could only be on professional sports.

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

Casino smoking inside Harrah’s New Orleans is banned since April of 2015, and as the two-year anniversary associated with regulation that is clean-air, representatives for the gambling venue are exposing just exactly how costly the ban was.

Harrah’s New Orleans would enjoy nothing a lot more than to remove their no casino smoking signs, since the ban is drastically hurting video gaming revenue. (Image:

Smoking is unquestionably bad for the body, but no smoking is apparently detrimental to 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 almost $70 million since the ban has been implemented.

During a presentation, the Caesars CEO pointed to $342 million in gaming revenue in 2014, followed closely by $307 million in 2015 and just $273 million in 2016. The annual decreases represent $35 million and $34 million for a total loss of $69 million.

Caesars Entertainment is the moms and dad organization to Harrah’s. In addition to its New Orleans property, the company has Horseshoe Bossier City and Harrah’s Louisiana Downs, both located in the northwestern part of the state.

Courtyard Video Gaming

Since 2007, all workplaces and restaurants in Louisiana have now been smoke-free, however the state law doesn’t expand to casinos and bars. The Big Easy changed that two years back.

All smoking and vaping inside casinos unlike the rest of Louisiana’s land-based and riverboat gaming venues where smoking remains legal, Harrah’s New Orleans is being forced to adhere to a city code that outlaws. Outdoor smoking cigarettes lounges were established for patrons, but income nearly immediately left the building too.

Meanwhile, video gaming income at casinos located away from populous city limitations, 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 smoking ban,’ Frissora told the committee.

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

However, the designated gaming courtyard is just the very first of three set to open.

Lighting a Fire

Gambling and smoking go together like America and apple pie, which explains why Louisiana Gaming Task Force Chairman Ronnie Jones thinks the ban is working against the intent behind having legalized gambling in New Orleans.

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

By all records, Harrah’s has become a partner that is strong New Orleans.

Harrah’s forecasts 2017 gaming earnings can come in at $270 million, a far cry from 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 fitness of Harrah’s workers is far more critical than the casino’s bottom line, Frissora explained he simply desires a level playing field that is regulatory.

North Korea Casino Cruise Ship Invites Foreign Investors to Come Aboard

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

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

Tourism and outsider access to North Korea is greatly limited, but each 12 months a limited number of visitors are permitted under close supervision. Mount Kumgang is one such area foreigners can travel, and now the nation is seeking to debut a casino cruise to the location.

But to be able to do this, North Korea is attracting investors that are foreign trying to raise $20 million for the project.

In a proposal to potential investors in shoddy English, the nation explains, ‘we have been trying to diversify international tourism at the world-renowned Mount Kumgang. By using the cruise ship, we will diversify worldwide tourism of Mount Kumgang, which will be famous hill of world.’

‘The passenger ship will likely be built with different facilities to allow 1,000 travelers to accomplish social and safe travel in the sea,’ the notice hypes.

Don’t expect billionaires Steve Wynn or Sheldon Adelson to come running.

‘I strongly doubt there will likely be foreign investors whom are willing to invest money aristocrat pokies online australia 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 conversing with the Wall Street Journal, the United States believes North Korea was behind the successful $81 million cyber bank heist through the Federal Reserve Bank of the latest York last year. The funds had been swindled from the Bangladesh account, with some for the ill-gotten money being laundered through at minimum two casinos within the Philippines.

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

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

In the place of ‘Shalika Foundation,’ the recipient ended up being spelled ‘Shalika Fandation.’

Headed Towards War?

The eyes of world leaders are fixated on North Korea, as the united states is reportedly close to releasing another test that is nuclear. Final month, Jong Un’s military conducted its first ballistic missiles test 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 the United States.

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

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