Jack Lam owes Pagcor $278.3 million

The Philippines Amusement and Gaming Corporation (PAGCOR) has disclosed that Jack Lam owes the regulator around P13.9 billion (US$278.3 million), local media reports.

PAGCOR assistant vice president Arnell Ignacio made the disclosure on Monday during the Senate inquiry into the alleged bribery scandal involving top officials at the Bureau of Immigration (BI).

While Ignacio could not give exact numbers on Lam’s debts, he confirmed that Lam’s online gaming operations in Clark were not licensed under the agency.

Sen. Sherwin “Win” Gatchalian also expressed hope that illegal online gaming in the Philippines will be dealt with 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,” said Sen. Sherwin “Win” Gatchalian

Latest Intelligence

Latest issue

PATA CEO sees slow recovery, but optimism for future

AGB Podcasts