Sweden’s Betsson has completed the acquisition of Nordic Gaming Group (NGG) following receipt of necessary regulatory approvals.
Betsson has acquired all shares in NGG’s holding company Transvectio Ltd by payment of a consideration of approximately €65m, consisting partly of cash and partly of a new issue of 217,974 shares of series B shares.
An additional purchase price based on the development of the acquisition during 2012 may also become payable - which can be paid by Betsson in cash or in own shares - and is capped at a maximum of €20m.
Following authorisation from the company’s annual shareholders' meeting on May 11th, Betsson’s board of directors has resolved to issue no more than 217,974 new B Shares against subscription in kind.
As a result, the share capital of Betsson will increase by SEK435,948, from SEK84,002,418 to SEK84,438,366.
Trading in the new shares is expected to commence on NASDAQ OMX Stockholm on or about June 21st.
As a result of the issue in kind, the number of shares in Betsson will increase from 42,001,209 (5,420,000 shares of series A and 36 581 209 B Shares) to 42,219,183 (5,420,000 shares of series A and 36,799,183 B Shares). The number of votes in Betsson will increase from 90,781,209 to 90,999,183.
Betsson added that the acquisition has been partly financed through loan financing in the amount of approximately €55m. The facility will be repaid at an appropriate rate which considers the company's dividend policy.
The acquisition of Nordic Gaming Group, owner of the NordicBet, Tobet and Triobet brands, will strengthen Betsson’s Nordic operations, in particular within the sports betting segment where approximately 50 per cent of NGG’s revenues are generated by the sportsbook.
June 21, 2012
Detroit man gambles away $1.5 million accidentally given by ATM
Ronald Page seemingly had it made when Bank of America unintentionally changed his account status, allowing the 55-year-old man to make unlimited ATM cash overdraft withdrawals.
But ABC News reports that Page, who in reality had only $300 in his checking account, used the accidental loophole to withdraw more than $1.5 million—losing it all on gambling.
And even worse for Page, the U.S. Attorney's Office in Detroit says he is now facing 15 months in prison after pleading guilty to charges of theft of bank funds, $1,543,104 in total between December 1, 2008 and May 31, 2009.
"In this case, the bank's glitch allowed the defendant to lose a significant amount of money that was not even his in the first place," reads the U.S. Attorney's sentencing memorandum, obtained by ABC. "The fact that defendant acted on an impulse does not minimize the seriousness of his conduct and the need for a custodial sentence."
The day the Bank of America glitch went into effect, Page reportedly withdrew $312,000 from ATMs at the Greektown Casino in Detroit and an additional $51,727 from the MGM Grand Casino. Bank of America placed a hold on his account 17 days later, but he had already withdrawn $1.5 million by that point.
The glitch reportedly occurred because Page originally had a banking account with LaSalle Bank. When Bank of America acquired LaSalle, the glitch somehow occurred while the two banking institutions were transferring account information.
Page, who does not have a prior record, could have faced a steeper sentence but prosecutors said his crime was a "lapse of judgment" and placed blame with Bank of America for allowing the withdrawals to take place.
In addition to the recommended 15-month sentence and order to repay the funds, the U.S. Attorney's Office has suggested that Page be prohibited from gambling in any capacity.
"If his gambling addiction is not addressed, he is very likely to cause further financial hardship to himself and his family," the memorandum reads.
But ABC News reports that Page, who in reality had only $300 in his checking account, used the accidental loophole to withdraw more than $1.5 million—losing it all on gambling.
And even worse for Page, the U.S. Attorney's Office in Detroit says he is now facing 15 months in prison after pleading guilty to charges of theft of bank funds, $1,543,104 in total between December 1, 2008 and May 31, 2009.
"In this case, the bank's glitch allowed the defendant to lose a significant amount of money that was not even his in the first place," reads the U.S. Attorney's sentencing memorandum, obtained by ABC. "The fact that defendant acted on an impulse does not minimize the seriousness of his conduct and the need for a custodial sentence."
The day the Bank of America glitch went into effect, Page reportedly withdrew $312,000 from ATMs at the Greektown Casino in Detroit and an additional $51,727 from the MGM Grand Casino. Bank of America placed a hold on his account 17 days later, but he had already withdrawn $1.5 million by that point.
The glitch reportedly occurred because Page originally had a banking account with LaSalle Bank. When Bank of America acquired LaSalle, the glitch somehow occurred while the two banking institutions were transferring account information.
Page, who does not have a prior record, could have faced a steeper sentence but prosecutors said his crime was a "lapse of judgment" and placed blame with Bank of America for allowing the withdrawals to take place.
In addition to the recommended 15-month sentence and order to repay the funds, the U.S. Attorney's Office has suggested that Page be prohibited from gambling in any capacity.
"If his gambling addiction is not addressed, he is very likely to cause further financial hardship to himself and his family," the memorandum reads.
June 20, 2012
No More Million Dollar Bets For Charlie Sheen
Charlie Sheen's retirement plans may come as a shock to longtime fans, but the actor knows when to cash in his chips - and become more financially responsible.
"When I’m done with this business it’s just going to be about soccer games and amusement parks," Charlie Sheen told The New York Times of his plans to retire after his yet-to-debut series Anger Management concludes. "And when this ends, I’m done. This is my swan song."
If Charlie Sheen were a betting man he might be tempted to put a wager on the show's success -- but it turns out gambling is one bad habit the 46-year-old was able to easily give up for good.
"I don’t bet anymore. I’m a retired gambler," Charlie Sheen announced, carefully clarifying his position. "Not a recovering gambler. Big difference. I’ll still look at the lines. I’ll be like, yeah, that’s a blowout, that’s a 40-point blowout. Easy, right? I’ll watch the game. It’s 40-point blowout the other way, and I can just walk away."
The biggest bet Charlie Sheen ever made? "Million dollars. Pacquiao," the actor admitted. "It was a wrong-way spread and I had a dream a week before that he was going to beat De La Hoya like a drum, and he did. Second round, the punch score was like 300 to 2. And it was like, pfffft, whatever. I felt nothing. And I went, O.K., there’s nothing left for me here. Unless my children are involved in the wager, no sense in making it, you know?"
Of his other well-known vices, Charlie Sheen isn't saying he's promised to stay completely clean and sober -- in fact, the one thing he's completely given up in that realm is Alcoholics Anonymous.
"I don’t know what clean is," he shared. "I’m not a member of A.A. anymore. I’m not a member of any of those groups. I think they’re all rooted in stuff that doesn’t really apply. It’s not for everyone. A.A. is a place that some pass through and others wind up, sorry."
"It was written by a drunk who was a plagiarist and took acid and [had sex with] everybody’s wife," Charlie Sheen continued, as always, not holding back in the least. "It’s true, dude, sorry. I gave them 22 years, man, and I got tired of some loser in a convertible van telling me how to live my life."
"When I’m done with this business it’s just going to be about soccer games and amusement parks," Charlie Sheen told The New York Times of his plans to retire after his yet-to-debut series Anger Management concludes. "And when this ends, I’m done. This is my swan song."
If Charlie Sheen were a betting man he might be tempted to put a wager on the show's success -- but it turns out gambling is one bad habit the 46-year-old was able to easily give up for good.
"I don’t bet anymore. I’m a retired gambler," Charlie Sheen announced, carefully clarifying his position. "Not a recovering gambler. Big difference. I’ll still look at the lines. I’ll be like, yeah, that’s a blowout, that’s a 40-point blowout. Easy, right? I’ll watch the game. It’s 40-point blowout the other way, and I can just walk away."
The biggest bet Charlie Sheen ever made? "Million dollars. Pacquiao," the actor admitted. "It was a wrong-way spread and I had a dream a week before that he was going to beat De La Hoya like a drum, and he did. Second round, the punch score was like 300 to 2. And it was like, pfffft, whatever. I felt nothing. And I went, O.K., there’s nothing left for me here. Unless my children are involved in the wager, no sense in making it, you know?"
Of his other well-known vices, Charlie Sheen isn't saying he's promised to stay completely clean and sober -- in fact, the one thing he's completely given up in that realm is Alcoholics Anonymous.
"I don’t know what clean is," he shared. "I’m not a member of A.A. anymore. I’m not a member of any of those groups. I think they’re all rooted in stuff that doesn’t really apply. It’s not for everyone. A.A. is a place that some pass through and others wind up, sorry."
"It was written by a drunk who was a plagiarist and took acid and [had sex with] everybody’s wife," Charlie Sheen continued, as always, not holding back in the least. "It’s true, dude, sorry. I gave them 22 years, man, and I got tired of some loser in a convertible van telling me how to live my life."
June 19, 2012
FIFA Extends Bans For Match-Fixing In South Korea And Croatia
World soccer’s ruling body FIFA extended punishments worldwide to 13 people involved in match- fixing in South Korea and Croatia.
The action follows domestic investigations by those countries’ soccer associations and is in accordance with FIFA’s disciplinary code, the governing body said in a statement. The bans range from five years to life.
The number of sanctions extended in South Korea will increase, pending a review of additional cases, FIFA added. Some of the people implicated in Croatia still face criminal investigation.
“These cases prove once more that the threat of illegal betting and match-fixing is not only confined to one part of the world,” FIFA director of security Ralf Mutschke said in the statement.
“The integrity of sport, and especially football, is hugely at risk and FIFA is firmly determined to combat this threat.”
FIFA’s latest action follows the extension of 45 domestic sanctions in Turkey and Finland to have global effect in February and April.
The action follows domestic investigations by those countries’ soccer associations and is in accordance with FIFA’s disciplinary code, the governing body said in a statement. The bans range from five years to life.
The number of sanctions extended in South Korea will increase, pending a review of additional cases, FIFA added. Some of the people implicated in Croatia still face criminal investigation.
“These cases prove once more that the threat of illegal betting and match-fixing is not only confined to one part of the world,” FIFA director of security Ralf Mutschke said in the statement.
“The integrity of sport, and especially football, is hugely at risk and FIFA is firmly determined to combat this threat.”
FIFA’s latest action follows the extension of 45 domestic sanctions in Turkey and Finland to have global effect in February and April.
June 18, 2012
Zynga launch Mobile Slots
Zynga have just announced their launch of Zynga Slots, a mobile slots experience for iPhone, iPad and iPod touch that brings a fresh spin to the casino genre. Zynga Slots is the second mobile title in the popular Zynga Casino category, and the third game in the franchise which also includes Zynga Poker and Zynga Bingo.
“As Zynga’s second mobile casino game, Zynga Slots brings the thrill of Las Vegas slot machines to the palm of players’ hands while introducing social elements for players to share the excitement with their friends,” said Justin Cinicolo, vice president, Zynga Mobile. “We’re continually listening to player feedback on the kinds of games they enjoy playing, and we’ll be sure to bring more high-quality iOS games to players based on the genres they enjoy.”
The Casino genre is a popular form of entertainment around the world, and Zynga Slots is designed with a global audience in mind. The game is launching in 10 languages: English, French, Italian, German, Spanish, Portuguese, Traditional Chinese, Simplified Chinese, Japanese and Korean.
Zynga’s iOS portfolio continues to grow and Zynga Slots is launching on the heels of recently launched Matching With Friends, Zombie Swipeout and Scramble With Friends.
Zynga is the partner of Wynn Resorts to provide online poker to the US Gaming giant, should, when and if the US Government allow again,
“As Zynga’s second mobile casino game, Zynga Slots brings the thrill of Las Vegas slot machines to the palm of players’ hands while introducing social elements for players to share the excitement with their friends,” said Justin Cinicolo, vice president, Zynga Mobile. “We’re continually listening to player feedback on the kinds of games they enjoy playing, and we’ll be sure to bring more high-quality iOS games to players based on the genres they enjoy.”
The Casino genre is a popular form of entertainment around the world, and Zynga Slots is designed with a global audience in mind. The game is launching in 10 languages: English, French, Italian, German, Spanish, Portuguese, Traditional Chinese, Simplified Chinese, Japanese and Korean.
Zynga’s iOS portfolio continues to grow and Zynga Slots is launching on the heels of recently launched Matching With Friends, Zombie Swipeout and Scramble With Friends.
Zynga is the partner of Wynn Resorts to provide online poker to the US Gaming giant, should, when and if the US Government allow again,
Pinnacle buys bust Federated Sports & Gaming
Pinnacle Entertainment has announced that it is buying the Heartland Poker Tour and its assets, including poker website domain names, for $4.5 million.
According to reports, Pinnacle successfully bid $4.5 million this week in a bankruptcy auction for the assets of bankrupt sister companies Federated Sports & Gaming and Federated Heartland. A Pinnacle spokesperson confirmed the purchase and price.
The Federated companies own both the Heartland Poker Tour and the Epic Poker League. The companies filed for bankruptcy in February in Maryland.
Pinnacle, a creditor in the bankruptcy case, is expected to convert its $2.1 million debt claim into equity, potentially reducing its cash outlay as the winning bidder to $2.4 million.
Pinnacle didn’t mention the Epic Poker League in it’s announcement about the Heartland Poker Tour, however Bluff Magazine is reporting this is the case.
“We will obviously need some time to assess all of our new assets and brands,” Pinnacle spokesperson Kerry Andersen said.
But she added, “These are well-known, respected brands and we are excited about the opportunity to expand them.”
The Heartland Poker Tour is a live, televised poker tournament series that made 17 stops in 15 states in 2011. Pinnacle’s River City and Lumiere Place casinos in St. Louis also hosted Heartland Poker Tour events in March.
Heartland is in its eighth season and broadcasts events on hundreds of network television, cable and satellite stations throughout the United States, Europe and the Caribbean.
“The acquisitions provide Pinnacle Entertainment with one of the poker industry’s most powerful brand and intellectual property portfolios, as well as the opportunity to expand the Heartland Poker Tour and more extensively integrate its events into our network of casino properties,” Pinnacle CEO Anthony Sanfilippo said in a statement. “In addition, the acquisitions provide several elements that will help advance our online gaming strategy.”
According to reports, Pinnacle successfully bid $4.5 million this week in a bankruptcy auction for the assets of bankrupt sister companies Federated Sports & Gaming and Federated Heartland. A Pinnacle spokesperson confirmed the purchase and price.
The Federated companies own both the Heartland Poker Tour and the Epic Poker League. The companies filed for bankruptcy in February in Maryland.
Pinnacle, a creditor in the bankruptcy case, is expected to convert its $2.1 million debt claim into equity, potentially reducing its cash outlay as the winning bidder to $2.4 million.
Pinnacle didn’t mention the Epic Poker League in it’s announcement about the Heartland Poker Tour, however Bluff Magazine is reporting this is the case.
“We will obviously need some time to assess all of our new assets and brands,” Pinnacle spokesperson Kerry Andersen said.
But she added, “These are well-known, respected brands and we are excited about the opportunity to expand them.”
The Heartland Poker Tour is a live, televised poker tournament series that made 17 stops in 15 states in 2011. Pinnacle’s River City and Lumiere Place casinos in St. Louis also hosted Heartland Poker Tour events in March.
Heartland is in its eighth season and broadcasts events on hundreds of network television, cable and satellite stations throughout the United States, Europe and the Caribbean.
“The acquisitions provide Pinnacle Entertainment with one of the poker industry’s most powerful brand and intellectual property portfolios, as well as the opportunity to expand the Heartland Poker Tour and more extensively integrate its events into our network of casino properties,” Pinnacle CEO Anthony Sanfilippo said in a statement. “In addition, the acquisitions provide several elements that will help advance our online gaming strategy.”
Gambler fighting Eurobet for £650,000
Bruno Venturi, 41, kept winning on the Eurobet.com website in 2009 in some three hours of play is claiming his winnings of £650,000 in court. However, Eurobet insists a software bug meant luck had nothing to do with it.
Eurobet which closed down their site in September 2011, claims that his winnings are null and void because he was mistakenly charged for only one in six of his bets.
The company has refused to pay up, sparking a High Court legal battle.
Pet shop worker Mr Venturi, who had won only small amounts in his previous two years using the website, says he was completely unaware of what was about to unfold when he logged on to play the “Sixty Seconds” game from his home in Naples, Italy, on January 28 2009.The company claims an error caused by a software upgrade meant Mr Venturi was charged for only one in six of the 6,670 wagers he placed, dramatically increasing his chances of winning the game, which has since been removed from the internet.Patrick Lawrence QC, for Eurobet, said the bug meant it was “mathematically inevitable” that Mr Venturi would keep hitting the jackpot.The High Court in London heard that the Italian, who started with just 20 Euros in his account, began playing at 8.18pm by placing his usual 20 cent bet, but increased the stakes as his apparent luck continued.
He had won 5,000 Euros by 9pm, and racked up winnings of 200,000 Euros by 10.10pm, as he frantically placed as many multiple wagers as the website would allow.
Speaking through an interpreter, Mr Venturi told the court: “I had always lost previously… but when I started to win I had a very good feeling. I’m a player and my instincts told me to keep betting.”
Mr Lawrence challenged him, saying he must have realised that something was wrong, but Mr Venturi insisted: “How could I realise there was an error. There was no message, I was just drawing, I didn’t have a clue… I thought I was very lucky.”
The Italian, who disputes that any error took place, stopped playing shortly before midnight, having amassed a colossal 707,665 Euros – then worth about £650,000 – in 217 heady minutes.
When asked why he called it a day, Mr Venturi replied: “I realised the amount that I was winning and I realised that I had to stop. I had been lucky enough… I am only human. I was taken by the emotions and there was a lot of euphoria.”
He added: “I’ve never had so much money… It’s a very big win; it’s not something that happens every day.”
Mr Venturi, who offered to come to England to pick up his winnings in cash, said an operator told him “this is incredible, but it does happen” as he transferred some of his winnings to a different online account.
The company, based in Woking, is refusing to pay Mr Venturi, saying the bets breached the website’s terms and conditions, and his winnings amounted to “unjust enrichment”.
Refuting those claims, Mr Venturi’s barrister, John McLinden QC, said: “Mr Venturi denies any software error as alleged by the defendant.
“The defendant has failed to establish that Mr Venturi broke any rules of the game whilst playing and obtaining the winnings.”
He added: “Mr Venturi performed his part of the game by completing various steps and screens presented to him by the defendant on the website, and paid for his bets on the game from the funds in his account. He did everything that was required of him to pay for the bets.
“If his account was not charged at any time for the repeat bets, which is not admitted, that omission was due to the defendant’s failure to completely perform its obligations to him, and to comply with its regulatory requirements.”
The hearing continues.
Eurobet which closed down their site in September 2011, claims that his winnings are null and void because he was mistakenly charged for only one in six of his bets.
The company has refused to pay up, sparking a High Court legal battle.
Pet shop worker Mr Venturi, who had won only small amounts in his previous two years using the website, says he was completely unaware of what was about to unfold when he logged on to play the “Sixty Seconds” game from his home in Naples, Italy, on January 28 2009.The company claims an error caused by a software upgrade meant Mr Venturi was charged for only one in six of the 6,670 wagers he placed, dramatically increasing his chances of winning the game, which has since been removed from the internet.Patrick Lawrence QC, for Eurobet, said the bug meant it was “mathematically inevitable” that Mr Venturi would keep hitting the jackpot.The High Court in London heard that the Italian, who started with just 20 Euros in his account, began playing at 8.18pm by placing his usual 20 cent bet, but increased the stakes as his apparent luck continued.
He had won 5,000 Euros by 9pm, and racked up winnings of 200,000 Euros by 10.10pm, as he frantically placed as many multiple wagers as the website would allow.
Speaking through an interpreter, Mr Venturi told the court: “I had always lost previously… but when I started to win I had a very good feeling. I’m a player and my instincts told me to keep betting.”
Mr Lawrence challenged him, saying he must have realised that something was wrong, but Mr Venturi insisted: “How could I realise there was an error. There was no message, I was just drawing, I didn’t have a clue… I thought I was very lucky.”
The Italian, who disputes that any error took place, stopped playing shortly before midnight, having amassed a colossal 707,665 Euros – then worth about £650,000 – in 217 heady minutes.
When asked why he called it a day, Mr Venturi replied: “I realised the amount that I was winning and I realised that I had to stop. I had been lucky enough… I am only human. I was taken by the emotions and there was a lot of euphoria.”
He added: “I’ve never had so much money… It’s a very big win; it’s not something that happens every day.”
Mr Venturi, who offered to come to England to pick up his winnings in cash, said an operator told him “this is incredible, but it does happen” as he transferred some of his winnings to a different online account.
The company, based in Woking, is refusing to pay Mr Venturi, saying the bets breached the website’s terms and conditions, and his winnings amounted to “unjust enrichment”.
Refuting those claims, Mr Venturi’s barrister, John McLinden QC, said: “Mr Venturi denies any software error as alleged by the defendant.
“The defendant has failed to establish that Mr Venturi broke any rules of the game whilst playing and obtaining the winnings.”
He added: “Mr Venturi performed his part of the game by completing various steps and screens presented to him by the defendant on the website, and paid for his bets on the game from the funds in his account. He did everything that was required of him to pay for the bets.
“If his account was not charged at any time for the repeat bets, which is not admitted, that omission was due to the defendant’s failure to completely perform its obligations to him, and to comply with its regulatory requirements.”
The hearing continues.
June 15, 2012
Mexican Drug Cartel’s Connection to US Horse Racing
In the stables at a prominent quarter horse track in New Mexico, workers quietly nicknamed Jose Trevino Morales's stables as the "Zetas' stables" and say they often saw people show up with bags of cash to buy the horses.
On Tuesday, authorities raided those stables and a horse ranch in Oklahoma accusing Trevino and others of running a sophisticated money-laundering operation connected to one of Mexico's most powerful and ruthless drug cartels.
Federal authorities accuse Trevino's older brother, Miguel Angel Trevino Morales, a key figure in the Zetas drug operation, of setting up the horse operation that the younger brother ran from the sprawling ranch near Lexington, Okla., south of Oklahoma City. Millions of dollars went through the operation, which bought, trained, bred and raced quarter horses throughout the southwest United States, including at the famed Ruidoso Downs track in New Mexico.
Jose Trevino, his wife and five others were arrested and charged with one count each of money laundering. Seven others, including another Trevino brother, were charged but remain at large. They could face up to 20 years in prison if convicted.
AP
In this photo taken Sept. 6, 2010, owner Jose... View Full Caption
"This case is a prime example of the ability of Mexican drug cartels to establish footholds in legitimate U.S. industries and highlights the serious threat money laundering causes to our financial system," said Richard Weber, the chief of the IRS' criminal investigation unit.
The indictment, unsealed Tuesday, describes how the Trevino brothers and a network quietly arranged to purchase quarter horses with drug money at auction and disguise the source of the funds used to buy them so that the Zetas' involvement would be masked. They would often pay in cash, or use fake names, which helped keep the owners and the money a secret.
Since 2008, the operation racked up millions of dollars in transactions in California, New Mexico, Oklahoma and Texas, prosecutors said. The New York Times first reported the raids and the alleged connection to the Zetas cartel, citing a months-long investigation and several anonymous sources.
The operation, Tremor Enterprises LLC, started small, but worked in plain sight. Some horses carried names with drug references, like Number One Cartel and Coronita Cartel. Over time, the horses and the operation earned a place on some of the most elite stages in the industry. One horse named Mr. Piloto won a $1 million prize at Ruidoso Downs on Labor Day 2010, going off at odds of 22-1. His trainer, Felipe Quintero, 28, was one of the seven arrested Tuesday.
The Zetas are one of Mexico's most powerful drug cartels, with a reputation for being willing to commit atrocities including kidnapping, decapitating and dismembering enemies. The elder Trevino is the second-in-command and one of the U.S. and Mexican governments' most wanted men, known for his brutality. One technique favored by Miguel Angel Trevino Morales is the "guiso," or stew, in which enemies are placed in 55-gallon drums and burned alive.
Underscoring the violence, the U.S. Embassy in Mexico issued a travel advisory Tuesday, warning that the arrests could result in some form of retaliation and urged U.S. citizens in Mexico to maintain a low profile.
Jose Trevino and his horse operation in the United States appeared to work with little fear of getting caught by authorities. Three stable workers at the Ruidoso Downs Race Track and Casino told The Associated Press on Tuesday that Trevino's stables were known as the "Zetas' stables," and two of the workers described seeing people from Mexico show up to the stables with duffel bags of cash to purchase horses. The AP agreed to let the workers, who refused to give their names, speak anonymously because they feared retaliation from the Zetas cartel.
It wasn't just the cash purchases that caught the attention of those in the quarter horse racing industry. The amount of money Trevino and his network paid for horses also raised eyebrows.
Debbie Schauf, the director of the Oklahoma Quarter Horse Racing Association, said Jose Trevino showed up a few years ago and quickly earned a reputation for always paying his bills and shelling out handsome prices for some of the top horses in the country. Quarter horses are smaller but more muscular than thoroughbreds and can run short distances faster than other horses.
"They were also recognized for taking care of their business. They paid their bills and didn't cause any trouble. You didn't have a food vendor or veterinarian calling to say they couldn't get these guys to pay their bills. They were good citizens in the horse industry," she said.
While it was common for buyers based out of the country to pay cash for horses, she said several transactions were noteworthy for their value.
"It didn't raise a lot of eyebrows when these guys came to the sales and started paying cash. What raised eyebrows was the quality of the horses they were buying and the amount of money these mares cost," Schauf said.
Prosecutors asked that no bond be set for Trevino fearing he would either flee or intimidate witnesses. Neither Trevino nor his lawyer, Tony Lacy, commented, and a lawyer for Zulema Trevino said he knew little about the case.
U.S. Magistrate Robert Bacharach appointed lawyers for the pair after they said the government was trying to seize all their property.
"I don't have any assets as of today," Trevino told the judge.
During the raids Tuesday, dozens of federal agents swarmed the New Mexico race track, wearing bulletproof vests and collecting evidence. At least two horses were taken away. Shaun Hubbard, general manager of the Ruidoso Downs Race Track and Casino, said the track officials are cooperating with federal authorities.
Seizure warrants were issued for 41 horses deemed the operations' most valuable, in an effort to prevent their being taken to Mexico. Among those was Mr. Piloto. The government sought an order to ensure the care of 384 other horses at the ranch, which sits among rolling hills about 40 miles south of Oklahoma City.
At least a half-dozen agents wearing military-style fatigues and baseball caps emblazoned with FBI stood by at the ranch Tuesday afternoon as horses roamed on crisply manicured lawns. Telephone messages left at the ranch were not immediately returned.
Neighbors said the ranch changed hands about a year ago, but few knew the couple well.
Chelsey Krueger, a student at Oklahoma City Community College who lives just south of the ranch, said she had never met the owners but knew when they were around.
"They were always in a Suburban, driving around with really loud music. They had a spotlight (at the ranch) that would be on late at night and light up the whole area," she said.
On Tuesday, authorities raided those stables and a horse ranch in Oklahoma accusing Trevino and others of running a sophisticated money-laundering operation connected to one of Mexico's most powerful and ruthless drug cartels.
Federal authorities accuse Trevino's older brother, Miguel Angel Trevino Morales, a key figure in the Zetas drug operation, of setting up the horse operation that the younger brother ran from the sprawling ranch near Lexington, Okla., south of Oklahoma City. Millions of dollars went through the operation, which bought, trained, bred and raced quarter horses throughout the southwest United States, including at the famed Ruidoso Downs track in New Mexico.
Jose Trevino, his wife and five others were arrested and charged with one count each of money laundering. Seven others, including another Trevino brother, were charged but remain at large. They could face up to 20 years in prison if convicted.
AP
In this photo taken Sept. 6, 2010, owner Jose... View Full Caption
"This case is a prime example of the ability of Mexican drug cartels to establish footholds in legitimate U.S. industries and highlights the serious threat money laundering causes to our financial system," said Richard Weber, the chief of the IRS' criminal investigation unit.
The indictment, unsealed Tuesday, describes how the Trevino brothers and a network quietly arranged to purchase quarter horses with drug money at auction and disguise the source of the funds used to buy them so that the Zetas' involvement would be masked. They would often pay in cash, or use fake names, which helped keep the owners and the money a secret.
Since 2008, the operation racked up millions of dollars in transactions in California, New Mexico, Oklahoma and Texas, prosecutors said. The New York Times first reported the raids and the alleged connection to the Zetas cartel, citing a months-long investigation and several anonymous sources.
The operation, Tremor Enterprises LLC, started small, but worked in plain sight. Some horses carried names with drug references, like Number One Cartel and Coronita Cartel. Over time, the horses and the operation earned a place on some of the most elite stages in the industry. One horse named Mr. Piloto won a $1 million prize at Ruidoso Downs on Labor Day 2010, going off at odds of 22-1. His trainer, Felipe Quintero, 28, was one of the seven arrested Tuesday.
The Zetas are one of Mexico's most powerful drug cartels, with a reputation for being willing to commit atrocities including kidnapping, decapitating and dismembering enemies. The elder Trevino is the second-in-command and one of the U.S. and Mexican governments' most wanted men, known for his brutality. One technique favored by Miguel Angel Trevino Morales is the "guiso," or stew, in which enemies are placed in 55-gallon drums and burned alive.
Underscoring the violence, the U.S. Embassy in Mexico issued a travel advisory Tuesday, warning that the arrests could result in some form of retaliation and urged U.S. citizens in Mexico to maintain a low profile.
Jose Trevino and his horse operation in the United States appeared to work with little fear of getting caught by authorities. Three stable workers at the Ruidoso Downs Race Track and Casino told The Associated Press on Tuesday that Trevino's stables were known as the "Zetas' stables," and two of the workers described seeing people from Mexico show up to the stables with duffel bags of cash to purchase horses. The AP agreed to let the workers, who refused to give their names, speak anonymously because they feared retaliation from the Zetas cartel.
It wasn't just the cash purchases that caught the attention of those in the quarter horse racing industry. The amount of money Trevino and his network paid for horses also raised eyebrows.
Debbie Schauf, the director of the Oklahoma Quarter Horse Racing Association, said Jose Trevino showed up a few years ago and quickly earned a reputation for always paying his bills and shelling out handsome prices for some of the top horses in the country. Quarter horses are smaller but more muscular than thoroughbreds and can run short distances faster than other horses.
"They were also recognized for taking care of their business. They paid their bills and didn't cause any trouble. You didn't have a food vendor or veterinarian calling to say they couldn't get these guys to pay their bills. They were good citizens in the horse industry," she said.
While it was common for buyers based out of the country to pay cash for horses, she said several transactions were noteworthy for their value.
"It didn't raise a lot of eyebrows when these guys came to the sales and started paying cash. What raised eyebrows was the quality of the horses they were buying and the amount of money these mares cost," Schauf said.
Prosecutors asked that no bond be set for Trevino fearing he would either flee or intimidate witnesses. Neither Trevino nor his lawyer, Tony Lacy, commented, and a lawyer for Zulema Trevino said he knew little about the case.
U.S. Magistrate Robert Bacharach appointed lawyers for the pair after they said the government was trying to seize all their property.
"I don't have any assets as of today," Trevino told the judge.
During the raids Tuesday, dozens of federal agents swarmed the New Mexico race track, wearing bulletproof vests and collecting evidence. At least two horses were taken away. Shaun Hubbard, general manager of the Ruidoso Downs Race Track and Casino, said the track officials are cooperating with federal authorities.
Seizure warrants were issued for 41 horses deemed the operations' most valuable, in an effort to prevent their being taken to Mexico. Among those was Mr. Piloto. The government sought an order to ensure the care of 384 other horses at the ranch, which sits among rolling hills about 40 miles south of Oklahoma City.
At least a half-dozen agents wearing military-style fatigues and baseball caps emblazoned with FBI stood by at the ranch Tuesday afternoon as horses roamed on crisply manicured lawns. Telephone messages left at the ranch were not immediately returned.
Neighbors said the ranch changed hands about a year ago, but few knew the couple well.
Chelsey Krueger, a student at Oklahoma City Community College who lives just south of the ranch, said she had never met the owners but knew when they were around.
"They were always in a Suburban, driving around with really loud music. They had a spotlight (at the ranch) that would be on late at night and light up the whole area," she said.
Betradar enters Russian retail betting market
Betradar has extended its virtual football betting offering in Russia to the retail outlets of bookmaker Liga Stavok.
The sports and betting related data provider already offers its Virtual Football League (VFL) solution to Liga Stavok online, and the retail deployment builds on the initial success of that site.
The virtual football betting solution enables round the clock betting on virtual football matches with a wide range of fixed odds on the outcome of each match.
“Liga Stavok very much appreciates the cooperation with Betradar. Its service of VFL gives our punters an additional and unique opportunity to place bets at any time,” said Liga Stavok executive Oleg Zhuravsky. “Thanks to VFL, punters no longer need to wait for weekends or certain game days, punters now have the opportunity to enjoy a football game and make bets around the clock.”
Liga Stavok will initially offer the product at selected flagship stores in Moscow before rolling the product out to its retail locations across the country.
“We are very pleased to have launched our first VFL retail solution together with Liga Stavok,” added Sportradar managing director of sales Erik Lorenz. “Since its recent launch the VFL has already shown that it is a great success story. The unique league concept and video animation differentiate the game clearly from other virtual offers in the market. The new retail solution is another important development step. We look forward to several upcoming launches during the next few weeks.”
In addition to LigaStavok.com, Betradar’s VFL is also currently offered online via the gaming sites of Tempobet, Bet1128 and Digibet.
The sports and betting related data provider already offers its Virtual Football League (VFL) solution to Liga Stavok online, and the retail deployment builds on the initial success of that site.
The virtual football betting solution enables round the clock betting on virtual football matches with a wide range of fixed odds on the outcome of each match.
“Liga Stavok very much appreciates the cooperation with Betradar. Its service of VFL gives our punters an additional and unique opportunity to place bets at any time,” said Liga Stavok executive Oleg Zhuravsky. “Thanks to VFL, punters no longer need to wait for weekends or certain game days, punters now have the opportunity to enjoy a football game and make bets around the clock.”
Liga Stavok will initially offer the product at selected flagship stores in Moscow before rolling the product out to its retail locations across the country.
“We are very pleased to have launched our first VFL retail solution together with Liga Stavok,” added Sportradar managing director of sales Erik Lorenz. “Since its recent launch the VFL has already shown that it is a great success story. The unique league concept and video animation differentiate the game clearly from other virtual offers in the market. The new retail solution is another important development step. We look forward to several upcoming launches during the next few weeks.”
In addition to LigaStavok.com, Betradar’s VFL is also currently offered online via the gaming sites of Tempobet, Bet1128 and Digibet.
June 14, 2012
Bendtner briefed on underwear
Denmark striker Nicklas Bendtner has been told that the sponsored underwear he revealed after scoring against Portugal on Wednesday.
Bendtner celebrated the second of his two goals in their 3-2 Euro 2012 loss by displaying the boxer shorts, which were sponsored by betting firm Paddy Power. The Arsenal forward claimed that he had worn the underwear in Denmark's first Euro 2012 match and in games before the tournament.
UEFA regulations, however, stipulate that all kit items worn during the finals must be free of any form of sponsor advertising.
"It is just a pair of lucky boxer shorts that I used in the first game as well and have used before the tournament," Bendtner said.
"I didn't know that I was breaking any rules but I am aware of that now."
The Danish FA is sponsored by Ladbrokes, another bookmaker, and was therefore said to be unhappy with Bendtner's celebrations against Paulo Bento's team.
The Paddy Power Twitter account posted a photo of Bendtner's sponsored underwear shortly after the goal was scored.
"We have spoken to the player and he will not play in those (underpants) against Germany on Sunday," the Danish FA's communications director Lars Berendt told Ekstra Bladet.
Denmark remain in contention to qualify for the quarter-finals from Group B despite their loss to Portugal and will face Germany in Lviv on Sunday.
Bendtner celebrated the second of his two goals in their 3-2 Euro 2012 loss by displaying the boxer shorts, which were sponsored by betting firm Paddy Power. The Arsenal forward claimed that he had worn the underwear in Denmark's first Euro 2012 match and in games before the tournament.UEFA regulations, however, stipulate that all kit items worn during the finals must be free of any form of sponsor advertising.
"It is just a pair of lucky boxer shorts that I used in the first game as well and have used before the tournament," Bendtner said.
"I didn't know that I was breaking any rules but I am aware of that now."
The Danish FA is sponsored by Ladbrokes, another bookmaker, and was therefore said to be unhappy with Bendtner's celebrations against Paulo Bento's team.
The Paddy Power Twitter account posted a photo of Bendtner's sponsored underwear shortly after the goal was scored.
"We have spoken to the player and he will not play in those (underpants) against Germany on Sunday," the Danish FA's communications director Lars Berendt told Ekstra Bladet.
Denmark remain in contention to qualify for the quarter-finals from Group B despite their loss to Portugal and will face Germany in Lviv on Sunday.
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