FOUNDER
Leisure & Resorts World Corp
POWER SCORE: 555
POSITION LAST YEAR: ONES TO WATCH
CLAIMS TO FAME
- Founded LRWC as Bingo Bonanza Corporation
- Former Southeast Asian Games silver medalist in water skiing
THE MAJORITY OWNER of Manila-based gaming firm Leisure & Resorts World Corp (LRWC), Alfredo Abelardo B. Benitez – more commonly known as “Albee” – stepped down from the Board of Directors last year to run for Mayor of Bacolod on the Philippines island of Negros.
That run proved successful and Benitez now finds himself holding office yet again, having previously served as a congressman representing the province of Negros Occidental.
Yet his influence at LRWC remains given his status as the largest individual shareholder of the family-owned business. Described as “one of the richest congressmen in the Philippines”, Benitez made his fortune in gaming, having founded Bingo Bonanza Corporation which he later listed as LRWC – a diversified gaming company whose interests include bingo, leasing slot machines and the operation of slot arcades on behalf of PAGCOR.
The company has also previously announced plans to develop a US$500 million casino resort on Boracay – initially said to be in conjunction with Macau’s Galaxy Entertainment Group – although any such partnership appears to be in limbo.
LRWC, whose recent interests include the launch of an online sportsbook for local users, also raised US$40 million via a private placement in March to expand its online gaming capabilities.
For the full list of 2022 Asian Gaming Power 50 winners, click here.
