WHEREAS, Presidential Decree No. 1507 granted the Philippine Games and Holidays Corporation or its successors, among others, for a period of twenty-five years from the promulgation of the Decree, extendible for another twenty-five years without the necessity of another franchise, the right, privilege, and authority to construct, operate and maintain a court for Basque Pelota (including the games and maintain a court for Basque Pelota (including the games of pala, raqueta, cestapunta, remonte and mano) in the City of Cebu or elsewhere, and hold or conduct Basque pelota games therein with bettings either direct or by means of electric and/or computerized totalizator;

WHEREAS, the grant to the Philippine Games and Holidays Corporation or its successors, of the right, privilege and authority under Presidential Decree No. 1507 is subject to amendment, alteration or repeal when the common good so requires;

NOW, THEREFORE, I, CORAZON C. AQUINO, President of the Philippines, do herby order:

SECTION 1. Presidential Decree No. 1507 is hereby repealed. Accordingly, the grant to the Philippine Games and Holidays Corporation or its successors of the right, privilege and authority under the aforementioned law, is hereby revoked and cancelled.

SECTION 2. This Executive Order shall take effect immediately.

Done in the City of Manila, this 8th day of May, in the year of Our Lord, nineteen hundred and eighty-seven.


By the President:

(Sgd.) JOKER P. ARROYO
Executive Secretary