JAI ALAI RETURN GETS CONGRESS OK
Batasang Pambansa, Jan. 16, 1998 - One of the Philippines' top tourist attractions will soon be back, thanks to a bill that was passed on the third and final reading in Congress.
The House of Representatives approved the controversial Jai Alai Franchise Bill early this week despite stiff opposition and numerous delays.
House Bill 8358 grants the Metropolitan Tourism and Leisure Corporation the right to put up jai alai frontons and betting stations throughout the country.
Records show that the MTLC is a subsidiary of Belle Corporation, which is owned by former prime minister Cesar Virata, former trade minister Roberto Ongpin, Jaime Gonzales, Hans Sy, Rufo Colayco, Washington Sycip and GSIS president Cesar Sarino.
Under the bill, 67 percent of net receipts, minus taxes, should be distributed as dividends while government gets about 15% as taxes.
A condition set by the bill is that there will be no special llave event and that the setting up of frontons should be approved by local governments.
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