Jack Lam casinos have 'perpetual' license: PAGCOR | ABS-CBN

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Jack Lam casinos have 'perpetual' license: PAGCOR

Jack Lam casinos have 'perpetual' license: PAGCOR

ABS-CBN News

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MANILA - The Philippine Amusement and Gaming Corporation confirmed Thursday that casinos operated by Macau gambling tycoon Jack Lam have a perpetual license to operate.

Pagcor Chairperson Andrea Domingo said the license covers casinos in Fort Ilocandia Resort Hotel in Laoag City and Fontana Leisure Parks and Casino in Clark Freeport Zone in Clark, Pampanga. She said the license was granted during the time of the first Aquino administration.

"Oo, yun ang nakuha niyang license, co-terminus with the life of Pagcor. Hanggang ma-extend ng ma-extend ang Pagcor, yung kontrata niya tila parang automatic na i-e-extend," she told radio DZMM.

"Yan lang ang may forever," she added.

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Domingo also noted Lam is only paying a 1 percent tax rate for all junkets in Fontana resort, compared to the 10 per cent tax charged to other gaming operators.

This is because Lam is claiming that he only gets 10 percent of earnings of foreign junkets in the casinos. "Ten percent of 10 percent is 1 percent but it should be 10 percent of junket operations should go to Pagcor," she said.

Domingo said she had instructed Pagcor lawyers to renegotiate Lam's license despite the tycoon's claim that the Supreme Court had already upheld the validity of the contract.

Instead of negotiating, she said Lam's lawyer wanted to give 7.5 percent tax rate to Pagcor while asking for the privilege to allow peso bets in the junkets. "Sabi ko, hindi na magandang usapan yun," she said.

She also pointed out that the SC decision only touched on the manner of revocation of Lam's contract, and did not uphold the "perpetual license" for Lam's casinos and the reduced tax rate.

The Pagcor chief said Lam could lose his license because of involvement in illegal gambling. "We are looking at it legally," she said.

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