Leisure & Resorts World Corporation (LRWC), a listed Company at the Philippine Stock Exchange, was originally incorporated on October 10, 1957 as Atlas Fertilizer Corporation and engaged in fertilizer and industrial chemicals production. As part of the corporate restructuring of the Company in 1996, the Company’s primary purpose was amended in 1999 to engage in realty development focusing on leisure business. When the company acquired AB Leisure Exponent, Inc. (ABLE) as its wholly owned subsidiary in October 1999, LRWC extended its business to professional bingo gaming through Bingo Bonanza Corporation. ABLE’s bingo parlors have become community and entertainment centers, a source of revenue for the government, and a sponsor for fundraising activities relating to social and educational programs.
On September 20, 2005, LRWC acquired First Cagayan Leisure and Resort Corporation (FCLRC), which has an existing license agreement with the Cagayan Economic Zone Authority (CEZA) to develop, operate and conduct internet and gaming enterprises and facilities in the Cagayan Special Economic Zone Freeport. FCLRC receives and processes applications for and issues interactive gaming licenses as well as regulates and monitors all operators of internet gaming in the Cagayan Special Economic Zone Freeport. LRWC also owns 30% of Binondo Leisure Resort, Inc., a company engaged in hotel and recreation business. LRWC is functioning basically as a holding company with minimal operations. The company is still focusing its endeavor in supporting the productivity programs of its wholly owned operating subsidiary, ABLE and its 69.68% owned subsidiary, FCLRC.
Loyalty: We believe that loyalty is born and cemented through relationships based on mutual benefit. The company recognizes the worth and industry of each individual and strives to support employee’s development to help them achieve their career goals. From this emanates our zeal to uphold our corporate objectives and advance our mission and vision.
Empowerment: We espouse the philosophy of enabling our employees to think, behave, take action, and make decisions in an autonomous way consistent with the principles of participative management and leadership.
Integrity: We perform our duties in a manner anchored on the tenets of truth, honesty, fairness, accountability and ethical behavior.
Service: We tender quality service focusing on customer satisfaction knowing well that our work reflect the principles which we adhere to.
Unity: We acknowledge that while we possess individual skills, our unique strengths are maximized only when we work together guided by one vision and a common objective.
Resilience: We are adaptable as we understand the dynamism of the gaming industry and view changes and innovation as avenues to greater opportunities. We have faith in the vision of our leaders and with their guidance we shall overcome adversities and achieve our corporate goals.
Excellence: We have responsibility to encourage and develop excellence in everyone for we consider this as a way of life. We strive for excellence in everything we do and we continuously cultivate our intellectual, physical, and spiritual growth and develop our talents and abilities to their fullest extent.