Johannesburg: South Africa’s fastest horses may not be racing, but a branch of the country’s richest family is pumping money into the industry so that when punters are allowed to return to the track, there will be horses to bet on.
Phumelela Gaming & Leisure Ltd, the nation’s biggest horse-racing company, will be receiving a 100 million-rand (US$5.5mil) lifeline from Mary Oppenheimer Daughters Pty Ltd after the racetrack owner filed for a local form of bankruptcy protection.
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