SA’s largest horse racing group, Phumelela Gaming & Leisure, is to receive a cash injection from the Oppenheimer family, averting what might have been the demise of the sport in the country after the company filed for business rescue on Friday.

The group, which among others operates the Vaal racecourse, is believed to have a fighting chance to survive the business rescue process after a post-commencement loan agreement was offered by family office Mary Oppenheimer Daughters.

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