Further Amending Section 11, Paragraph 1, of Presidential Decree No. 1869, as Amended

EXECUTIVE ORDER NO. 260 July 25, 1987 FURTHER AMENDING SECTION 11, PARAGRAPH 1, OF PRESIDENTIAL DECREE NO. 1869, AS AMENDED WHEREAS, Section 11(1) of Presidential Decree No. 1869 provides that the service fee to be paid to management and/or operator companies whose services may be engaged by the Philippine Amusement and Gambling Corporation (PAGCOR) in the operation of its gambling casinos shall not exceed ten per cent (10%) of the gross income; WHEREAS, the prescription of the said amount of service fee is not at all times an ideal arrangement, hence there is a need for providing an alternative method by which grantees of operating and/or management contracts would pay the government for such privilege; WHEREAS, such an alternative would be the payment to the government of fixed monthly rentals for the bidding, to obtain the most advantageous terms for the government; and WHEREAS, it is desirable to extend the privilege not only to registered and accredited companies possessing the knowledge, skill, expertise and facilities, but also to qualified individuals who can operate or manage...