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 he regularly shared privileged insider information concerning the company with Vegas sports betting legend Billy Walters.

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

The pair would communicate via particularly 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 dallas-based company and certainly one of the greatest processors of milk in america.

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

Innocent Meeting

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 own stock that is occasional tip within the hope he’d acquire some sports betting advice in return, he said

Nevertheless the nature of the relationship changed whenever Davis borrowed almost $1 million from Walters. After that, it ‘grew to a spot where we was a virtual conduit’ for inside information, he said.

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

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

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

Walters Made $40 Million on Trades

Davis initially denied involvement as he had been 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 2012 alone august.

The investigation was having on his family and himself after their visit, Davis threw his bat phone into a creek, he said, but later decided to come clean after he suffered a stroke and realized the impact.

‘I used inadequate 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 having an offense, he earned in 2012 on one of Walters’ trading tips although he did return $1 million.

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

Alabama Legislators Attempt to Pass Constant Fantasy Sports Bill

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

The state legislature is debating three different bills and if one passes, it would make them the 13th state in the US to enable its residents to participate in DFS.

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

Up until might 2016 residents were able to participate at sites such as Draft Kings and Fan Duel. Luther Strange, the attorney general turned US Senator, stated it was a illegal activity and sent cease and desist letters to the companies.

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

Fans straight away began to phone their state representatives and senators to protest and urged them to take action.

Age Old Argument

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

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

‘To me personally, we don’t see it as the same kind of gambling that i am opposed to in days gone by like the casino-type of gambling,’ Whatley said. ‘It’s about the skills of picking teams that are playing once an or a couple times a week. time’

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

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

Patterned After Neighbor’s Legislation

Associated with three bills, HB 354 generally seems to have the best odds of passing. The legislation is modeled after a recently approved Mississippi law and would set up a plan that could manage the industry.

Operators would have to pay for a registration fee of $85,000 should they had above 5,000 accounts and $10,000 if lower than that figure. The revenue tax would be six % and businesses would need to submit annual audits that is financial.

Other provisions would be an age limit of 19 or older and contests could simply be on professional activities.

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

Casino smoking inside Harrah’s New Orleans is banned since April of 2015, and as the two-year anniversary of this regulation that is clean-air, representatives for the gambling venue are revealing just how expensive the ban is.

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

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

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.

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 total loss of $69 million.

Caesars Entertainment is the moms and dad organization to Harrah’s. As well as its New Orleans property, the business has Horseshoe Bossier City and Harrah’s Louisiana Downs, both positioned in the northwestern area of the state.

Courtyard Gaming

Since 2007, all workplaces and restaurants in Louisiana were smoke-free, however the continuing state law doesn’t extend to casinos and bars. The Big Easy changed that two years ago.

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 lounges were founded for patrons, but income almost immediately left the building too.

Meanwhile, video gaming income at gambling enterprises located away from city limits, the Boomtown brand New Orleans riverboat for example, has increased since 2015. ‘It’s maybe 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 the casino was allowed by it to include 63 slots in its smoker-friendly courtyard. But with losings totaling nearly $70 million in 2 years, that is not also one gaming machine per million dollars.

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

Lighting a Fire

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

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

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

Harrah’s forecasts 2017 gaming earnings 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 impact,’ Jones explained.

While supporters of the clean-air code say the fitness of Harrah’s employees is far more critical than the casino’s bottom line, Frissora explained he simply wishes a level regulatory playing industry.

North Korea Casino Cruise Liner Invites Foreign Investors to Come Aboard

A North Korea casino ship is trying to set sail through the Mount Kumgang tourist region to Southern Korea as well as other Asian countries. 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 federal government.

Visitors permitted to enter the nation’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 access that is outsider North Korea is heavily restricted, 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 seeking to debut a casino cruise to the destination.

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

In a proposition to possible investors in shoddy English, the country explains, ‘We are trying to diversify international tourism during the world-renowned Mount Kumgang. By using the cruise liner, we will diversify worldwide tourism of Mount Kumgang, which can be famous mountain of world.’

‘The passenger ship will likely be equipped with various facilities to allow 1,000 tourists doing social and travel that is safe the sea,’ the notice hypes.

Never expect billionaires Steve Wynn or Sheldon Adelson in the future running.

‘I strongly question there are foreign investors who are ready to spend cash in North Korea,’ Lim Eul-chul, a professor at Southern Korea’s Kyungnam University, told London’s Financial instances.

North Behind NY Fed Heist?

According to sources speaking 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 year that is last. The funds were swindled through the Bangladesh account, with some associated with 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 February 5, 2016, hackers scheduled transfers totaling almost $1 billion through the Bangladesh Central Bank for ‘international settlements’ set to be deposited into various accounts throughout the world. After $81 million was successfully withdrawn, an error that is spelling the interest of Deutsche Bank and prompted the financial institution to confirm 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 test that is nuclear. Last month, Jong Un’s military conducted its very first missiles that are ballistic since President Donald Trump took office.

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

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

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