Billy Walters Test Celebrity Witness Embezzled from Battered Women’s Charity to finance Gambling, Hookers

Gambling, soliciting prostitutes, ripping off a ladies’ charity and leaking sensitive and painful company information, it’s all just a later date in the office, evidently, for the previous president of America’s milk-processing companies that are biggest.
William ‘Billy’ Walters leaves a Manhattan court that is federal. He is alleged to possess made $43 million in unlawful stock trades on Dallas-based Dean Foods. He is pleading not liable.
Tom Davis, the former president of Dean Foods, of Dallas, continued his testimony in the trial of his one-time buddy, the gambler that is legendary 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 expected by United States Assistant Attorney Brooke Cucinella to disclose any details that are unsavory his back ground that will later surface throughout the course associated with test. This is standard practice, as it’s better that such information is presented to the court at the start rather than being wheedled out from the witness later by 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 information became ‘more demanding.’
On Wednesday Davis explained that even after borrowing the cash, their failed numerous investments and gambling habits 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 said that he initially received $625,000 from Walters but he blew it quickly, losing $200,000 alone on one hand of blackjack in 2011 at the Cosmopolitan in Las Vegas. He then asked Walters for the next loan of $400,000 which he said was to help refinance a bank in Dallas.
Davis Lying, Says Walters Attorney
‘I made a really poor decision at that period of amount of time in my life,’ admitted Davis, in what Bloomberg described this week as ‘his gravelly Texas drawl.’
‘I’d developed a friendship that is strong Mr. Walters,’ Davis said. ‘I knew who Billy Walters was… he was a gambler that is fairly famous. He had lot of connections in Las vegas, nevada. He had been a big recreations gambler. We was frankly enamored with him.’
Barry Berke, Walters’ attorney called Davis ‘a liar’ who ‘wrongfully implicated Walters only after he got caught stealing from a charity and cheating on his taxes.’
‘We are going to prove through incontrovertible proof which he’s lying about every allegation that is single of whole story,’ Berke said.
Davis is testifying against his friend that is former as of a plea bargain with federal prosecutors after admitting fees including securities fraud and cable fraud.
Michigan On The Web Gambling Supporters ‘Cautiously Optimistic’
Michigan online gambling advocates state they truly are encouraged by the recent help that’s been generated for the latest internet casino bill introduced in Lansing.
State Sen. Mike Kowall is once more cheerful about his Michigan online gambling bill’s opportunities, but native groups that are american opposed. (Image: MI Senate GOP)
State Senate Majority Leader Mike Kowall (R-District 15) introduced SB 203 earlier this month. If the legislation becomes law, commercial casinos and federally recognized tribes could be permitted to have online gaming licenses to provide interactive poker rooms and internet gambling.
It’s perhaps not the time that is first has attempted to push through a bill that could end online gambling prohibition within the Wolverine State. But this time around, there appears to be more support.
Talking with WZZM 13, the ABC affiliate in Grand Rapids, Kowall said he’s ‘cautiously positive’ on SB 203. ‘The number 1 issue is to make sure online gaming is safe while bringing in some income to the state during the same time,’ he explained.
Tribes Opposed
Land-based gambling in Michigan is presently reserved to Native American groups being allowed to provide games of chance on their reservations that are sovereign. The exception is Detroit, where the authorization of three gambling that is commercial had been approved during a voter referendum in 1996.
Three years later on, the three casinos in Motor City started for business. Native American teams were none too happy at that time, and 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 unwarranted and unconditional waivers of sovereign immunity,’ the letter states. ‘By failing woefully to recognize that Indian tribes are already 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’s Cash, There’s Help
The tribe’s opposition is because of their belief if they decided to move forward with online gambling that they would be unfairly tariffed. Both Native American groups state 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 legislation, Kowall’s bill would require not only the commercial operators in Detroit, but also the tribes, to pay $100,000 per year should they wish to launch on line gambling. Ten % of their gross revenues would be directed to the state’s coffers.
Michigan, like so many governments around the nation, continues to look for brand new income streams as tax re payments remain at lower levels than before the Great Recession hit in 2008.
It’s difficult to pinpoint simply how much the Michigan online gambling bill might reap for their state, as it’s unclear how many casinos and tribes would bite. However, some forecasts call for as much as $30 million an once the market reaches maturity year.
Amaya Reports Record Revenue in Q4 But Profits https://myfreepokies.com/aristocrat-pokies/ Fall Slightly Short
PokerStars parent Amaya has reported record revenues in Q4 and across 2016, citing ‘proactive changes’ to the web poker ecosystem, also better-than-expected growth of its casino operations.
Amaya CEO Rafi Ashkenazi said that record profits were down to a controversial but policy that is successful of PokerStars’ ‘ecology’ as well as better-than-expected recreations book and casino results. (Image: Amaya)
The company that is canadian, year-over-year, revenues rose 5.9 per cent in Q4, to $310 million, and 7.8 percent for the entire of 2016, to $1.15 billion.
Nonetheless, profit in the quarter that is fourth 53 cents a share, which missed the average projection of 56 cents.
PokerStars’ changes to its ecosystem, initiated in late 2015, triggered sit-out protests by some players during the time, mainly its high volume, high stakes players, who were, by definition, its best customers.
Rebalancing the Poker Ecosystem
But Amaya wanted to tip the scales in support of leisure players, or net depositors, who had previously been scared away in recent years by a widening skill space while 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.
However, Amaya is wary of relying totally on poker as the appetite for the game continues to wane globally.
‘[Changes to poker] and customer acquisition initiatives carry on to reverse certain negative trends and now we are needs to see organic growth in that company, our casino offering exceeded expectations as we introduced restricted marketing campaigns and centered on our cross-sell efforts, and we continued to build and develop our sportsbook,’ stated Rafi Ashkenazi, Amaya CEO.
Product Diversification
Poker accounted for 70 % of revenue in Q4 compared with 78 % in the quarter that is previous while the share of on-line casino and sports book rose to 25.8 per cent from 17.2 per cent, correspondingly.
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 serious insider trading costs, while a proposed merger with William Hill ended up being derailed by 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 earnings.
‘ The performance that is strong of company has assisted us to reduce our currency risk, lower our interest expense, and accelerate the payment of the remaining amounts owed on our deferred re payment responsibility, all of which will let us continue pursuing our four strategic priorities,’ said Ashkenazi. ‘We expect to continue our 2016 momentum and execute on our strategy in 2017.’
Georgia Casino Bill Resuscitated But Prognosis Not Good
Supporters of casino video gaming in Georgia have new, albeit slim, hope. The state’s Destination Resort Bill, which died in the Senate last thirty days, has resurfaced inside your home with a few tweaks and a new sponsor.
State Representative Ron Stephens hopes to breathe brand new life into the push to bring casino video gaming to Georgia. (Image: yogonet.com)
Representative Ron Stephens (R -Savannah) presented an updated form of the bill towards the House Regulated Industries Committee on Thursday. He hopes that by proposing four licenses rather than two, the legislation will gain more support that is statewide enabling more communities to profit.
Double the Fun
The previous bill proposed a casino for the Metro Atlanta area and another for a smaller city, such as for instance Savannah or Columbus, thus alienating most of the state from participation.
‘[With the bill] that is previous we’ve eliminated the ability for several places around hawaii to even be area of the game, if you will. No pun meant,’ Stephens told committee people.
‘We actually want for the high-end investment for tourism,’ he added.
There is a feeling that if Atlanta is to compete nationally in the convention business it needs a more entertainment that is compelling in the downtown area. a recent survey revealed that 22 percent of Atlanta convention visitors stated they would not keep coming back to the town because of not enough evening activity.
Under the terms of the bill, the Atlanta resort would need a good investment of at minimum $2 billion from a effective bidder, with the second biggest casino requiring at least $450 million. Two smaller, ‘tertiary’ properties would additionally be permitted with a minimal investment of $150 million each.
Dissenting Sounds
But to opponents of casino gaming, the doubling of licenses will simply make the proposal doubly unappealing, and there are numerous dissenting voices in the state, particularity from church groups.
‘Casinos really are a net loss for the state,’ claimed Dave Baker, executive director of the Faith and Freedom Coalition of Georgia. ‘ They bring addiction, crime and bankruptcy. That includes human trafficking. And we work to fight many of these things in countless other bills to bring gambling enterprises to hawaii is just moving completely in the wrong direction.’
The version that is previous of bill, sponsored by Senator Brandon Reach, failed even making it away from a Senate committee, after a committee hearing on the bill had been canceled due to not enough interest. Its reemergence into the homely house suggests that its sponsors at least believes it offers a better chance there.
Stephens, certainly, is positive, although he concedes it will take some political maneuvering to make it work.
