Section 1Sec./Art. 1

Nature and Scope of Franchise. - Any provision of law to the contrary notwithstanding, there is hereby granted to the Mindanao Jockey and Country Club, Inc., a corporation duly organized and registered under the laws of the Philippines, hereinafter referred to as the grantee, a franchise to construct, operate and maintain one racetrack in Davao City, establish such branches thereof for booking purposes anywhere in the Philippines, and hold or conduct horse races with bettings on the results of races, 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: Provided, That the establishment of off-track betting stations anywhere in the country shall be subject to the approval/consent of the local government units where the off-track betting station shall be established, and in case of a municipality or component city, approval or consent of the provincial government shall likewise be obtained.