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 about the company with Las Vegas sports betting legend Billy Walters.

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

The pair would communicate via specially 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 dallas-based company and one of the greatest processors of milk in the usa.

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

Innocent Fulfilling

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

However the nature regarding the relationship changed when Davis borrowed almost $1 million from Walters. After that, it ‘grew to a place where we had been a virtual conduit’ for inside information, he said.

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

Davis said he offered Walter company secrets via 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 discount with federal prosecutors, after admitting charges securities that are including and wire fraud.

Walters Made $40 Million on Trades

Davis initially denied involvement when he was 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 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 utilized 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. ‘we lied to everybody.’

Mickelson is not charged by having an offense, although he did return $1 million he earned in 2012 using one of Walters’ trading guidelines.

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

Alabama Legislators Attempt to Pass Daily 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 might make them the 13th state in the US to enable its citizens to engage in DFS.

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

Up until might 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 towards the businesses.

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

Fans straight away started initially to call their state representatives and senators to protest and urged them to do this.

Age Old Argument

The debate on DFS is whether it’s skill or gambling additionally the conversation was lively.

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

‘To me, we don’t notice it as the exact same kind of gambling that i am opposed to in yesteryear for instance the casino-type of gambling,’ Whatley said. ‘It’s about the abilities 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 type, is fiercely in opposition to it.

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

Patterned After Neighbor’s Legislation

For the 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 cover a registration fee of $85,000 when they had more than 5,000 accounts and $10,000 if significantly less than that figure. The revenue tax will be six percent and businesses will have to submit annual financial audits.

Other provisions would be an age limit of 19 or older and contests could only 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 has been banned since April of 2015, so that as the two-year anniversary associated with clean-air regulation approaches, representatives for the gambling venue are exposing just how costly the ban was.

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

Smoking is unquestionably bad for the physical 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 during 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 declines represent $35 million and $34 million for a total loss of $69 million.

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

Courtyard Video Gaming

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

Unlike the others of Louisiana’s land-based and riverboat video gaming venues where smoking stays legal, Harrah’s New Orleans has been forced to adhere to a town code that outlaws all smoking and vaping inside casinos. Outdoor smoking lounges were established for patrons, but income nearly immediately left the building too.

Meanwhile, gaming income at gambling enterprises located outside of the city limitations, the Boomtown 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 town threw Harrah’s New Orleans a bone when the casino was allowed by it to include 63 slot machines in its smoker-friendly courtyard. But with losings totaling nearly $70 million in two years, that’s not also one gaming machine per million bucks.

However, the designated gaming courtyard is the very first 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 purpose of having legalized gambling in New Orleans.

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

By all accounts, Harrah’s has been a strong partner to New Orleans.

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

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

North Korea Casino Cruise Ship 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 and other Asian countries. The Kumgang Special International Tourism Zone is a unique part 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 separated regime wants foreigners to choose North Korea casino cruise line. (Image: Carlos Barria/Reuters)

Tourism and access that is outsider North Korea is greatly 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 country is seeking to debut a casino cruise to the destination.

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

The country explains, ‘We are trying to diversify international tourism at the world-renowned Mount Kumgang in a proposal to potential investors in shoddy English. Using the cruise liner, we will diversify international tourism of Mount Kumgang, which is famous mountain of world.’

‘The passenger ship is built with different facilities to allow 1,000 travelers doing social and travel that is safe the ocean,’ the notice hypes.

Don’t expect billionaires Steve Wynn or Sheldon Adelson in the future running.

‘we strongly doubt there are foreign investors who are ready to invest cash in North Korea,’ Lim Eul-chul, a professor at Southern Korea’s Kyungnam University, told London’s Financial Times.

North Behind NY Fed Heist?

According to sources speaking with the Wall Street Journal, the usa 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 had been swindled from the Bangladesh account, with some associated with ill-gotten money being laundered through at least two gambling enterprises in the Philippines.

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

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 eye of Deutsche Bank and prompted the economic institution to verify the transaction with Bangladesh officials.

In 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 nation is reportedly close to releasing 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 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 nuclear weapon capable of reaching the United States.

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 anticipated to be too keen on moving in for a casino cruise ship in North Korea.