Section 1Sec./Art. 1

Any provision of law to the contrary notwithstanding, there is hereby granted to the Metro Manila Turf Club, Inc., a corporation duly organized and existing under the laws of the Republic of the Philippines, hereinafter called the grantee, its successors or assigns, for a period of twenty-five (25) years from the effectivity of this Act, the right, privilege and authority to construct, operate and maintain one race track in the City of Kalookan, establish branches thereof for booking purposes, and hold or conduct horse races with betting, whether on the results of the races or other forms of gaming derived therefrom, and either directly or by means of any mechanical, electrical, and/or computerized totalizator, and to do and carry out all such acts, deeds and things as may be necessary to give effect to the foregoing.