{"id":23320,"date":"2021-10-06T13:48:40","date_gmt":"2021-10-06T16:48:40","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=23320"},"modified":"2026-04-23T15:00:16","modified_gmt":"2026-04-23T18:00:16","slug":"lrwc-director-resigns-to-run-for-public-office","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/lrwc-director-resigns-to-run-for-public-office","title":{"rendered":"LRWC director resigns to run for public office"},"content":{"rendered":"\n

Alfredo Abelardo B. Benitez has stepped down as LRWC director to run for mayor in Bacolod City.<\/p>\n\n\n\n\n\n\n\n

The Philippines.-\u00a0Leisure & Resorts World Corp (LRWC)<\/strong>\u00a0has announced that long-time executive Alfredo Abelardo B. Benitez has resigned from his position to run for a public position as mayor of Bacolod City.<\/p>\n\n\n\n

Benitez is the company’s major shareholder<\/strong>\u00a0and has recently served as the director and committee member of the Executive Committee, Corporate Governance Committee, Compensation Committee, and Retirement Committee.\u00a0Prior to this,\u00a0he was the chairman of the company<\/strong>\u00a0and also served as its president.<\/p>\n\n\n\n

From 2010 to 2019, Benitez also worked as the representative of Negros Occidental\u2019s 3rd district. Xu Jianming has been appointed as his temporary replacement<\/strong>\u00a0under the role of director, committee member and president.<\/p>\n\n\n\n

LRWC seeks to re-partner with Galaxy for Boracay casino<\/h2>\n\n\n\n

With\u00a0Philippine president Rodrigo Duterte changing his mind<\/a>\u00a0about a\u00a0ban on gambling on Boracay<\/strong>,\u00a0LRWC<\/a>\u00a0planned to resume talks with Galaxy Entertainment about a possible casino development on the island.<\/p>\n\n\n\n

An original project was announced in December 2017, after LRWC bought the parcels of land in Boracay for US$500m.<\/strong> However, Duterte then closed the island destination to tourism <\/strong>due to concerns for the environment. He said that the increased number of visitors on the island was turning Boracay into a \u201ccesspool.\u201d<\/p>\n\n\n\n

LRWC dropped its plan<\/a> for a casino on its 23-hectare property in Boracay leaving Galaxy Entertainment as a sole investor. However, a few weeks ago Duterte said his country needs income to recover from the Covid-19 pandemic.<\/p>\n\n\n\n

Duterte stated: \u201cWe don\u2019t have money now. Where we can get money, I will get it. If it will be from gambling, so be it<\/strong>.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Alfredo Abelardo B. Benitez has stepped down as LRWC director to run for mayor in Bacolod City.<\/p>\n","protected":false},"author":176,"featured_media":22355,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Alfredo Abelardo B. Benitez has resigned from Leisure & Resorts World Corp (LRWC) as a director and major shareholder to pursue a mayoral bid in Bacolod City, with Xu Jianming appointed as his temporary replacement. Concurrently, LRWC plans to re-engage Galaxy Entertainment regarding a Boracay casino development, following Philippine President Duterte's reversal on a gambling ban, citing the need for pandemic recovery funds.","focusai_entities":"Alfredo Abelardo B. Benitez, Leisure & Resorts World Corp, LRWC, Xu Jianming, Rodrigo Duterte, Galaxy Entertainment","focusai_location":"Philippines, Bacolod City, Boracay, Negros Occidental","focusai_target_profile":"ceo_executive (1.0), regulator (1.0), compliance_legal (0.9), operator_casino (1.0), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (1.0)","focusai_suggestions":[{"label":"Boracay Casino Timeline?","query":"What is the projected timeline for LRWC and Galaxy Entertainment to finalize their partnership and commence development of the Boracay integrated resort, considering the previous environmental concerns and new regulatory landscape?"},{"label":"LRWC Governance Impact?","query":"How will the departure of Alfredo Abelardo B. Benitez, a major shareholder and key executive, impact LRWC's long-term corporate governance structure and strategic decision-making processes?"}],"footnotes":""},"categories":[157,16333],"tags":[23907,3857],"class_list":["post-23320","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-south-east-asia-news","tag-land-based-casino","tag-lrwc"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/23320","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=23320"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/23320\/revisions"}],"predecessor-version":[{"id":23349,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/23320\/revisions\/23349"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/22355"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=23320"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=23320"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=23320"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}