Lam owes $279 million to the Philippines

The local gaming regulator said that the Chinese gambling operator owes millions from his operations in the country.

Philippines.- The Philippine Amusement and Gaming Corporation (PAGCOR) assistant vice president Arnell Ignacio said that Jack Lam owes the corporation over US$279 million from his operations in the Philippines.

Even though the official didn’t give away the exact numbers on the tycoon’s debts, he confirmed that his online gaming operations in the country were not licensed. Earlier this month, the president Rodrigo Duterte announced that Lam can return to the country if he pays taxes and faces the criminal charges that are against him. In December 2016, Lam left the country and went to Hong Kong because he thought he was going to be arrested, and after a few days, Duterte issued an arrest order for economic sabotage and bribery against the casino mogul.

Sen. Sherwin Gatchalian said that he hopes that the new leadership of PAGCOR can work against illegal online gambling very soon. “I hope under the new leadership of PAGCOR these debts will not increase. The Filipino people had been short changed for a very long time,” he added.