AIRLINK 74.00 Decreased By ▼ -0.25 (-0.34%)
BOP 5.14 Increased By ▲ 0.09 (1.78%)
CNERGY 4.55 Increased By ▲ 0.13 (2.94%)
DFML 37.15 Increased By ▲ 1.31 (3.66%)
DGKC 89.90 Increased By ▲ 1.90 (2.16%)
FCCL 22.40 Increased By ▲ 0.20 (0.9%)
FFBL 33.03 Increased By ▲ 0.31 (0.95%)
FFL 9.75 Decreased By ▼ -0.04 (-0.41%)
GGL 10.75 Decreased By ▼ -0.05 (-0.46%)
HBL 115.50 Decreased By ▼ -0.40 (-0.35%)
HUBC 137.10 Increased By ▲ 1.26 (0.93%)
HUMNL 9.95 Increased By ▲ 0.11 (1.12%)
KEL 4.60 Decreased By ▼ -0.01 (-0.22%)
KOSM 4.83 Increased By ▲ 0.17 (3.65%)
MLCF 39.75 Decreased By ▼ -0.13 (-0.33%)
OGDC 138.20 Increased By ▲ 0.30 (0.22%)
PAEL 27.00 Increased By ▲ 0.57 (2.16%)
PIAA 24.24 Decreased By ▼ -2.04 (-7.76%)
PIBTL 6.74 Decreased By ▼ -0.02 (-0.3%)
PPL 123.62 Increased By ▲ 0.72 (0.59%)
PRL 27.40 Increased By ▲ 0.71 (2.66%)
PTC 13.90 Decreased By ▼ -0.10 (-0.71%)
SEARL 61.75 Increased By ▲ 3.05 (5.2%)
SNGP 70.15 Decreased By ▼ -0.25 (-0.36%)
SSGC 10.52 Increased By ▲ 0.16 (1.54%)
TELE 8.57 Increased By ▲ 0.01 (0.12%)
TPLP 11.10 Decreased By ▼ -0.28 (-2.46%)
TRG 64.02 Decreased By ▼ -0.21 (-0.33%)
UNITY 26.76 Increased By ▲ 0.71 (2.73%)
WTL 1.38 No Change ▼ 0.00 (0%)
BR100 7,874 Increased By 36.2 (0.46%)
BR30 25,596 Increased By 136 (0.53%)
KSE100 75,342 Increased By 411.7 (0.55%)
KSE30 24,214 Increased By 68.6 (0.28%)

imageMANILA: Philippine President Rodrigo Duterte said on Thursday he would allow Jack Lam, one of Asia's top casino kingpins, to do business in the country after he had ordered his arrest on charges of economic sabotage and bribery.

Duterte said he would allow the casino boss to come back to the Philippines if he apologised for bribing an official and paid the correct taxes.

Lam, from the Chinese gambling enclave of Macau, has been operating online gambling at a former US air force base without a license, the justice department said. "On the condition that he lets go of original contract Just pay taxes, don't bribe anybody," Duterte told reporters after saying Lam had sent surrender feelers to the authorities.

There was no immediate comment from Lam, according to his lawyer, Raymond Fortun, and his whereabouts were not known. Philippine police say he is not in the country.

Last month, Philippine immigration authorities detained about 1,200 Chinese men working without permits in call centre-like facilities for running suspected online gambling operations out of the former US air base, Clark Field.

Philippine police chief Ronald Dela Rosa said on Saturday an associate of Lam tried to secure their release. He said Duterte had ordered the arrest of Lam.

Philippine authorities said they had shut down two properties owned by Lam, who is a Chinese citizen and head of Hong Kong-listed Jimei International

Lam, who used to bring high rollers to Macau's top casinos including Sands China and Wynn Macau, has faded from prominence over the past few years as a Chinese crackdown on corruption has crippled so-called junket operations.

At the same time, Lam's operations in the Philippines have grown, including a rise in Chinese nationals gambling online at his gaming site.

Copyright Reuters, 2016

Comments

Comments are closed.