Jack Lam owes PAGCOR PHP13.9 B

By on January 24, 2017


Jack Lam owes PAGCOR PHP13.9 B (Photo: PAGCOR/Facebook)
Jack Lam owes PAGCOR PHP13.9 B (Photo: PAGCOR/Facebook)

MANILA—The Philippine Amusement and Gaming Corporation (PAGCOR) on Monday disclosed that Macau-based gaming tycoon Jack Lam owed the agency around PHP13.9 billion.

PAGCOR Assistant Vice President and comedian Arnell Ignacio made this disclosure after being asked by Sen. Sherwin “Win” Gatchalian during the Senate inquiry into the alleged PHP50 million bribery scandal involving top officials of the Bureau of Immigration (BI).

Ignacio could not give exact figures on Lam’s debts but confirmed that the tycoon’s online gaming operations in Clark were not licensed under the agency.

He also said that most of the illegal online gaming operations were disguised as call centers operating locally but extends the illegal online gaming nationally and even internationally.

Gatchalian pointed out that Lam’s unlicensed online operation was only one of the many operations stealing money from the Filipino people.

He meanwhile expresses hope that these illegal online gaming will be dealt with soon under the new leadership of PAGCOR.

“I hope under the new leadership ng PAGCOR these debts will not increase. The Filipino people had been short changed for a very long time,” Gatchalian said.

PAGCOR has so far issued demand letter to Lam, as per the outstanding balance he has with the agency.

Lam owns an online casino called Fontana Leisure Parks and Casino in Clark, Pampanga which employs Chinese nationals illegally working in the country.