Jack Lam owes PAGCOR P13.9 billion –official

Gaming tycoon Jack Lam owes the Philippine Amusement and Gaming Corporation (PAGCOR) about P13.9 billion, its official revealed on Monday.

During the Senate hearing on the bribery scandal hounding the Bureau of Immigration (BI), PAGCOR associate vice-president Arnell Ignacio said Lam only remits one percent of his earnings from his junket operations, which they have been contesting.

He, however, could not give the exact figures of Lam’s net earnings per year.

Moreover, Ignacio said they could not monitor Lam’s earnings from his illegal online gambling operations as it was not licensed by PAGCOR.

“He has licenses with PAGCOR for casino operations, junket operations and phone betting. Ang wala po siya yung online,” Ignacio said.

Senator Sherwin Gatchalian, who was asking the questions, insisted that Ignacio and PAGCOR should have numbers.

Ignacio refused to give him numbers as he has to still verify them. He promised to give the senators the exact number once they are verified.

Lawher Angeline Entienza, meanwhile, said they have already issued a demand letter to Lam regarding his outstanding balance with PAGCOR.

Lam was accused of bribery for the release of illegal Chinese workers in Clark, Pampanga. He has since left the country. —Erwin Colcol/KBK, GMA News