Billy Walters Test Star Witness Embezzled from Battered Women’s Charity to Fund Gambling, Hookers

Billy Walters Test Star Witness Embezzled from Battered Women’s Charity to Fund Gambling, Hookers

Gambling, soliciting prostitutes, ripping down a ladies‘ charity and leaking sensitive company information, it’s all just a later date on the job, evidently, for the previous president of America’s milk-processing companies that are biggest.

William ‚Billy‘ Walters leaves a Manhattan federal court. He is alleged to have made $43 million in unlawful stock trades on Dallas-based Dean Foods. He is pleading not liable.

Tom Davis, the former chairman of Dean Foods, of Dallas, continued their testimony in the trial of his one-time buddy, the legendary gambler Billy Walters, on Wednesday. Walters is accused of making $43 million from illegal trades on Dean Foods‘ stock, making use of information that is privileged furnished by Walters.

Because the star witness for the prosecution, Davis was asked by United States Assistant Attorney Brooke Cucinella to disclose any unsavory factual statements about his background that may later surface over the course for the trial. This is standard training, as it’s preferable that such info is presented to the court in advance in the place of being wheedled out of the witness later on with a protection attorney.

And, boy, did Davis deliver!

$200,000 On One Hand of Blackjack

The court had heard the past day how the nature of Davis‘ relationship with Walters changed after the latter loaned him around $1 million. After Davis became indebted to him, Walters‘ request for information became ‚more demanding.‘

On Wednesday Davis explained that also after borrowing the money, their failed investments that are numerous gambling practices forced him to embezzle $100,000 from the tennis charity for battered ladies. Davis eventually paid the amount of money back, but later took another $50,000 which he allocated to ‚gambling and hookers.‘

Davis stated that he initially received $625,000 from Walters but he blew it quickly, losing $200,000 alone on one hand of blackjack in 2011 during the Cosmopolitan in Las Vegas. He then asked Walters for another loan of $400,000 which he said was to help refinance a bank in Dallas.

Davis Lying, Claims Walters Attorney

‚I made a very bad decision at that amount of time in my life,‘ admitted Davis, in what Bloomberg described this week as ‚his gravelly Texas drawl.‘

‚I’d developed a strong friendship with Mr. Walters,‘ Davis stated. ‚I knew who Billy Walters was… he was a gambler that is fairly famous. He had a complete lot of connections in Las Vegas. He was a big sports gambler. I was frankly enamored with him.‘

Barry Berke, Walters‘ attorney called Davis ‚a liar‘ who ‚wrongfully implicated Walters only after he got caught stealing from the charity and cheating on his taxes.‘

‚we have been going to show through incontrovertible proof that he’s lying about every single allegation of his whole tale,‘ Berke said.

Davis is testifying against their friend that is former as of a plea bargain with federal prosecutors after admitting costs including securities fraud and cable fraudulence.

Michigan On The Web Gambling Supporters ‚Cautiously Optimistic‘

Michigan online gambling advocates say they’re encouraged by the recent support that is been generated for the internet casino bill that is latest introduced in Lansing.

State Sen. Mike Kowall is once again cheerful about their Michigan online gambling bill’s chances, but Native American groups are opposed. (Image: MI Senate GOP)

State Senate Majority Leader Mike Kowall (R-District 15) introduced SB 203 earlier this month. In the event that legislation becomes law, commercial casinos and federally recognized tribes is allowed to obtain online gaming licenses to provide interactive poker rooms and internet gambling.

It’s perhaps not the first-time Kowall has attempted to push through a bill that could end online gambling prohibition within the Wolverine State. But this right time around, there appears to be more support.

Talking with WZZM 13, the ABC affiliate in Grand Rapids, Kowall stated he’s ‚cautiously optimistic‘ on SB 203. ‚The number one issue is to be sure online gaming is safe while bringing in a few revenue in to the state at the same time,‘ he explained.

Tribes Opposed

Land-based gambling in Michigan is presently reserved to Native American groups being allowed to offer games of opportunity on their reservations that are sovereign. The exception is Detroit, where the authorization of three commercial gambling venues ended up being approved within a voter referendum in 1996.

Three years later on, the 3 casinos in Motor City started for company. Native American groups were none too happy during the time, as well as the potential expansion of online gambling is now seen by Indian leaders as more legislation that fails to respect sovereignty that is tribal.

The tribes tell the Michigan Senate Regulatory Committee that they are allowed under federal law to commence internet gambling in a joint letter from the Nottawaseppi Huron Band of the Potawatomi and Saginaw Chippewa Indians.

‚ The legislation requires unconditional and unwarranted waivers of sovereign immunity,‘ the page states. ‚By failing continually to notice that Indian tribes are currently authorized to conduct on reservations internet video gaming under both the Indian Gaming Regulatory Act and the illegal Internet Gambling Enforcement Act, the legislation would curtail these lawful areas of Indian tribal gaming.‘

Where There Is Cash, There’s Help

The tribe’s opposition is due to their belief they would be unfairly tariffed when they decided to maneuver ahead with online gambling. Both indigenous American groups say from doing so if they want to offer interactive gaming to persons on their sovereign lands, there’s no barrier currently preventing them.

But if passed and finalized into law, Kowall’s bill would need maybe not just the commercial operators in Detroit, but in addition the tribes, to pay $100,000 per year should they wish to launch on line gambling. Ten % of these gross revenues would additionally be directed to your state’s coffers.

Michigan, like so governments that are many the nation, continues to consider new income channels as tax re payments remain at reduced amounts than before the Great Recession hit in 2008.

It’s difficult to identify simply how much the Michigan online gambling bill might reap for the state, as it’s unclear how casinos that are many tribes would bite. However, some forecasts necessitate up to $30 million a 12 months once industry reaches maturity.

Amaya Reports Record Revenue in Q4 But Profits Fall Slightly Short

PokerStars parent Amaya has reported record profits in Q4 and across 2016, citing ‚proactive modifications‘ to the online poker ecosystem, in addition to better-than-expected growth of its casino operations.

Amaya CEO Rafi Ashkenazi said that record profits were down up to a controversial but successful policy of rebalancing PokerStars‘ ‚ecology‘ along with better-than-expected activities book and casino results. (Image: Amaya)

The Canadian company said, year-over-year, revenues rose 5.9 percent in Q4, to $310 million, and 7.8 percent for the entire of 2016, to $1.15 billion.

Nonetheless, profit in the fourth quarter was 53 cents a share, which missed the average projection of 56 cents.

PokerStars‘ changes to its ecosystem, initiated in belated 2015, caused sit-out protests by some players during the time, mainly its high amount, high stakes players, who had been, by definition, its best customers.

Rebalancing the Poker Ecosystem

But Amaya wanted to tip the scales in favor of recreational players, or web depositors, who had previously been scared away in recent years by a widening skill space as well as the increasing use of poker tracking pc software by multi-tabling, net-withdrawing professionals.

It tweaked its player rewards scheme and introduced a bunch of recreational-friendly ‚jackpot‘ style games, that have been designed to level the playing industry by increasing the luck factor. To the horror of pros, it seems to have worked.

Even so, Amaya is wary of relying entirely on poker because the appetite for the overall game continues to wane globally.

‚[Changes to poker] and customer acquisition initiatives continue to reverse certain negative trends and now we are just starting to see organic growth in that company, our casino providing exceeded expectations we continued to build and develop our sportsbook,‘ said Rafi Ashkenazi, Amaya CEO as we introduced limited marketing campaigns and focused on our cross-sell efforts, and.

Product Diversification

Poker accounted for 70 % of revenue in Q4 compared with 78 % in the quarter that is previous while the share of online casino and sports book rose to 25.8 % from 17.2 %, respectively.

Last was a turbulent one for Amaya year. It saw its founder and major shareholder, David Baazov, resign as president and CEO, in the face of severe insider trading costs, while a proposed merger with William Hill had been derailed by way of a William Hill shareholder revolt.

Nevertheless, Amaya is reducing your debt it accumulated in its $4.9 billion takeover of PokerStars, which means increased revenues will soon start to translate into bigger profits.

‚ The strong performance of our business has aided us to reduce our currency risk, lower our interest cost, and accelerate the payment of the residual amounts owed on our deferred re payment obligation, all of which will allow us to carry on pursuing our four strategic priorities,‘ stated Ashkenazi. ‚We expect to continue our 2016 momentum and execute on our strategy in 2017.‘

Georgia Casino Bill Resuscitated But Prognosis Perhaps Not Good

Supporters of casino gaming in Georgia have new, albeit slim, hope. The state’s Destination Resort Bill, which died in the Senate final thirty days, has resurfaced in the House with a few tweaks and a new sponsor.

State Representative Ron Stephens hopes to breathe life that is new the push to bring casino video gaming to Georgia. (Image:

Representative Ron Stephens (R -Savannah) presented an updated version of the bill towards the House Regulated Industries Committee on Thursday. He hopes that by proposing four licenses in place of two, the legislation will gain more support that is statewide permitting more communities to benefit.

Double the Fun

The previous bill proposed a casino for the Metro Atlanta area and another for a smaller city, such as Savannah or Columbus, thus alienating most of the state from involvement.

‚[With the bill] that is previous we’ve eradicated the chance for many places around the state to even be the main game, in the event that you will. No pun intended,‘ Stephens told committee users.

‚We actually searching for for the investment that is high-end tourism,‘ he added.

There was a sense that if Atlanta is to compete nationally into the convention company it needs a far more compelling entertainment offering in the downtown area. a recent survey revealed that 22 percent of Atlanta convention visitors said they would not keep coming back to the city because of not enough night activity.

Under the terms for the bill, the Atlanta resort would require an investment of at minimum $2 billion from a effective bidder, because of the 2nd casino that is largest needing at the least $450 million. Two smaller, ‚tertiary‘ properties would additionally be permitted with a minimum investment of $150 million each.

Dissenting Voices

But to opponents of casino gaming, the doubling of licenses only will make the proposal doubly unappealing, and there are many voices that are dissenting the state, particularity from church groups.

‚Casinos really are a loss that is net the state,‘ claimed Dave Baker, executive director of this Faith and Freedom Coalition of Georgia. ‚ They bring addiction, bankruptcy and crime. That includes human trafficking. And we work to fight numerous of these things in a lot of other bills to bring casinos to the state is just going completely in the incorrect direction.‘

The previous version of the bill, sponsored by Senator Brandon Reach, failed also making it out of a Senate committee, after having a committee hearing on the bill was canceled due to lack of interest. Its reemergence within the House suggests that its sponsors at least believes it offers a better opportunity there.

Stephens, certainly, is optimistic, although he concedes it will take some political maneuvering making it work.

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