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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
Oink Country Love Slot Launches -
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Tim Chung Wins MPNPT Manchester -
The 288-runner £550 MPNPT Manchester Main Event today crowned its champion, awarding the bulk of the £150,000 total prizepool to the nine players surviving after two days of tournament poker at the Grosvenor Casino.
MPNPT Manchester Day 2 -
Day 2 of the £550 MPNPT Manchester Main Event saw 60 Day 1 survivors (from a total of 288 entries) and three intrepid last-minute registrants sit down to play to the final table.
Day 1B MPN Poker Tour Manchester -
Day 1B of the £550 MPNPT Manchester Main Event saw the field rise to 285, as players took full advantage of the whole-day re-entry period.
Day 1A MPNPT Manchester -
The £150,000 guaranteed MPNPT Manchester kicked off today in style – 74 poker players from all over Europe arriving at the Grosvenor Casino to contend the first of two starting days
Kung Fu Rooster Slot Goes Live -
Celebrate Chinese New Year - 2017 Year of the Rooster. It's time to sweep away any ill-fortune and make way for incoming good luck, with this exciting 12 lines slot game.
Sensational Sixes Slot Goes Live -
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3 New Betsoft Slots -
3 new Betsoft slot Games were also added this week to most online casinos allowing US players.
2017 Bodog Super Millions Poker Open -
The first events on the 105-tournament schedule have already been completed; there are three more tourneys on Thursday’s schedule, with a total of $34,000 in guaranteed prize money waiting to be won.
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