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Jack Lam Facing Big Fines in the Philippines

ONLINE GAMBLING TYCOON FACES BIG PHILIPPINES BILL (Update)
 
Pagcor claims Jack Lam owes P13.9 billion.
 
It's going to be costly for Macau online gambling and junket tycoon Jack Lam to return to the Philippines following his rather hurried departure last year with allegations of economic sabotage, bribery and tax evasion swirling around him.
 
On Monday a Philippines Senate hearing evidence on a P50 million bribery at the troubled Bureau of Immigration (BI) heard evidence from Pagcor vice president Arnell Ignacio that Lam's Philippines operations had remitted only 1 percent of revenues, and that it was estimated that he owed P 13.9 billion (about US$277.20 million).
 
However, Ignacio was unable to provide full and verified annual numbers because, he said, Lam was licensed for land casino operations, junket operations and phone betting, but not for his extensive online gambling activity, and Pagcor was therefore unable to monitor revenues from this part of his Philippines business.
 
Senator Sherwin Gatchalian, was having none of that, and insisted on financial information that is available to Pagcor, to which Ignacio responded by saying that the numbers would have to be verified, but would be provided to the senators.
 
The Senate panel heard from Pagcor lawyer Angeline Entienza that the organization has already sent a letter of demand to Lam regarding his 'outstanding balance' at Pagcor.
 
The panel is probing an alleged P50 million bribery scam involving BI officials and Lam regarding the release of illegal Chinese workers following a BI raid on Lam premises in the Clark Freeport



Gambling News :

Live Dealer Now At Slotocash - Live Dealer can be found in the left navigation menu under 'Live Dealer' when you, the player is logged in to instant play.

Advantages of online slots over slot machines - The rise of online casinos means that players no longer have to leave their own house to play casino games.

Betradar Launches US Sports Betting Solutions - With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.

Abdelaouhab Zizi Wins MPNPT Morocco Main Event - Abdelaouhab Zizi has defeated fellow Casablanca resident Fadhil Farag heads up to win the 2018 MPN Poker Tour Morocco Main Event and MAD 375,000 (c. €33,220) after a two-way deal.

Final 12 For MPNPT Morocco - Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).

MPNPT Morocco Updates - Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.

MPN Poker Tour Morocco Day 1A - The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.

2018 MPN Poker Classic - The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.

PDC and Sportradar Renew Deal - Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data

Poker Yaar Joins MPN - Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.

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