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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



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US$30M DUBAI WORLD CUP - Racecourse Media Group and Meydan to showcase world’s richest raceday to more than 150 territories The Dubai World Cup is the first horse race to be broadcast live on airlines and cruise lines

NHL Odds: Forsberg Faces Elliott in Nashville - The last time the Nashville Predators played against the Calgary Flames, Calgary had a 4-1 lead five minutes into the second period. Nashville responded with four back-to-back goals, including a hat trick from centreman Filip Forsberg. Both teams went into overtime with five goals, and Calgary defenseman Mark Giordano (12 goals, 22 assists) scored the winning goal.

Sit & Go 2.0 launched online exclusively at Americas Cardroom - Get ready to cheer like a champion before the first flop is even dealt. The much-anticipated Sit & Go 2.0 is now launched online exclusively at Americas Cardroom and Sit & Go players are reaping the benefits of the next evolution of poker.

NBA Odds: Hawks, Wiz in Southeast Showdown - The Washington Wizards (42-27 SU, 36-32-1 ATS) can pretty much secure the Southeast Division title with a win Wednesday night over the Atlanta Hawks (37-32 SU, 31-38 ATS). Tip-off is at 8 PM ET on ESPN; the Wizards lead Atlanta by five games with less than a month remaining before the playoffs.

Mega Moolah progressive jackpot Hit Again - Microgaming’s Mega Moolah progressive jackpot slot has been hit yet again at just over €6.6 million!

NBA Odds: Clippers Try to Slow Down Bucks in LA - Milwaukee Bucks small forward Giannis Antetokounmpo and Los Angeles Clippers power forward Blake Griffin are two of the most talented and versatile forwards in the NBA. The two lead their teams into battle on Wednesday in Los Angeles.

NCAAB Odds: SMU Hosts Tulsa With AAC Title on the Line - There aren’t too many college basketball teams more profitable than the SMU Mustangs (25-4 SU, 18-5-1 ATS). They host the Tulsa Golden Hurricane (14-14 SU, 15-12 ATS) this Thursday night, tipping off at 8 PM ET on CBSSN.

NHL Odds: Canadiens Welcome Islanders Tonight - The Montreal Canadiens (32-20-8) welcome the New York Islanders (28-21-10) on Thursday (7:30 PM ET on SNE). After getting their first victory under new head coach Claude Julien, the Canadiens will look to build on that momentum against a red-hot Islanders team.

NHL Odds: Reeling Flyers Seek Relief in Pittsburgh - #nhl The Philadelphia Flyers have been a bit off since the holidays. They’ve won just eight games since the Christmas break, and now they’ve got a tough one coming up this Saturday night against the Pittsburgh Penguins.

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