Section 1Sec./Art. 1

Nature and Scope of Franchise. Subject to the provisions of the Constitution and applicable laws, rules and regulations, there is hereby granted to the Starland Racing Corporation, hereunder referred to as the grantee, its successors or assigns, a franchise to construct, establish, operate and maintain one racetrack in the Province of Batangas, to establish such branches thereof for booking purposes anywhere in the country, and to hold or conduct horse races therein with bettings whether on the results of the races directly or by means of mechanical, electric 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.