North Korean athletes took first place in all five weight classes held until the second day of the competition.
Lee Hye-sung (29, Chungbuk Provincial Office) won a silver medal in snatch at the Asian Weightlifting Championships.
Hye-sung Lee lifted 131kg in snatch, 155kg in clean and jerk, and 286kg in total in the men’s 61kg class competition at the 2024 Asian Weightlifting Championships held in Tashkent, Uzbekistan on the 4th (local time).
Unlike the Olympics and Asian Games, where medals are awarded only for total records,
medals are awarded for the snatch, clean and jerk, and total categories at the Asian Weightlifting Championships. 카지노사이트 추천
Hye-Sung Lee placed second in the snatch and won her silver medal.
However, she only finished 8th in the clean and jerk, and she also fell to 4th in the all-important total.
The gap with third place Trinh Van Binh (28, Vietnam), who held a total of 290kg (129 snatch, 161kg in jerk and jerk), was 4kg.
Shinnok (21, Goyang City Hall), who competed in the same weight class,
placed 5th with a total weight of 285kg (125kg in snatch and 160kg in jerk and jerk).
North Korea won all five weight classes held until today, the second day of the competition.
Myungjin Park (20) rose to the top in the men’s 61kg class by lifting 134kg in snatch,
172kg in clean and jerk, and 306kg in total.
In the women’s 49kg class, Lee Seong-geum (26) took first place with 95kg in snatch,
125kg in jerk and jerk, and 220kg in total.
The total of 220kg is a new world record, surpassing the 216kg that Lee Seong-geum set at the Hangzhou Asian Games by 4kg.
Lee Seong-geum also set a new world record in the clean and jerk.
Kang Hyun-kyung (24) won the women’s 55kg class with 104kg in snatch,
123kg in clean and jerk, and 227kg in total.
In her impression, Kang Hyun-kyung also broke her own world record by 1kg.
On the first day of the competition, Won Hyo-sim in the women’s 45kg class and Bang Eun-cheol in the men’s 55kg class presented gold medals to North Korea.
As China does not participate in this competition,
North Korea’s weightlifting continues to dominate.
Real Madrid defeated Atalanta 2-0 in the European Football Association (UEFA) Super Cup at the Stadion Narodowy in Warsaw, Poland, on Friday (June 15).
The UEFA Super Cup pits the winner of the UEFA Champions League (UCL) from the previous season against the winner of the UEFA Europa League (UEL) in a one-off match. With this victory, Real Madrid reached the top of the UEFA Super Cup for the second time in two years, making it their sixth overall victory. This is the most in history, surpassing Barcelona and AC Milan.
Real Madrid opted for a 4-3-3 formation. Vinicius Junior-Mbappe-Hodrigo, Jude Bellingham-Aurelien Chouameni-Federico Valverde, Per Mendy-Antonio Rudiger-Eder Militant-Dani Carvajal, and Thibaut Courtois started in the back four.
Atalanta lined up in a 3-4-1-2 formation.
Ademola Lucman-Charles Duckettelaar, Mario Paszalic, Matteo Ruggeri-Marton Deron-Ederson-Davide Zappacosta, Sead Kolasinac-Isaac Hien-Berat Zimcic, Juan Musso, and Juan Musso started up front.
It was a spectacular start to the third Galactico for Mbappe, who ended a seven-year spell with Paris Saint-Germain (PSG) this summer and signed a five-year contract with Real Madrid as a free agent. Mbappé is finally wearing the jersey of his childhood dream club, Real Madrid.
Mbappe is now Real Madrid’s number 9. He celebrated by raising his arms in the air with president Florentino Perez at his signing ceremony last month, 파워볼실시간 and then walked around the stadium to greet the fans for the first time. The Real Madrid fans welcomed him with a rousing ovation. Zinedine Zidane was also on hand to congratulate him.
“I can’t believe I’m here,” Mbappe said in fluent Spanish. I have been dreaming for many years that I wanted to play for Real Madrid and today my dream has come true. I am so happy. First of all, I want to thank President Pérez for believing in me from day one. A lot has happened, but I want to say thank you. It was very difficult, but we won. “My family is happy, my mother is crying, it’s an unbelievable day,” he said, ”I’m finally a Real Madrid player. I will give my life for this club and this emblem,” he said in emotion.
Mbappe also paid homage to Cristiano Ronaldo’s (Al Nasr) Real Madrid debut 15 years ago.
He left the field to the cheers of a clouded crowd, chanting “One, two, three, alla Madrid!” as his idol did.
Mbappe then made his debut in the starting lineup against Atalanta. He had only been training with the team for a week after suffering a broken nose at the UEFA Euro 2024, but he was ready to go.
Mbappe fired off his first shot in a Real Madrid shirt in the 15th minute, when he was unstoppable on a low cross from Valverde. However, the ball got caught in the Atalanta defense.
Mbappe didn’t have to wait long for his debut goal, as he scored the goal of a lifetime in the 23rd minute of the second half, after the team had taken a 1-0 lead on Valverde’s strike. Bellingham crossed the ball between the defenses on the left side of the box. Despite being in a tight space, Mbappe took the pass and fired a powerful shot into the back of the net before performing his trademark ‘arms in the air’ gesture.
Having done his job,
Mbappe exited the field in the 38th minute of the second half, replaced by Brahim Dias. Real Madrid finished the match without conceding a goal and added a sixth Super Cup title to their record. Mbappe celebrated with his teammates as they lifted the trophy.
After the game, Mbappe told Movistar: “It was a great night. I’ve been waiting for this moment for a long time. To play with this jersey, with this emblem, for these fans. It’s a gift for me.” In fluent Spanish, of course.
He added: “It’s very important to win trophies. We know that we always have to win (in Madrid). I’m very happy that I was decisive in my debut as a striker. But more importantly, it’s a pleasure to play,” he added.
Mbappe is confident that he can achieve anything with Real Madrid.
When asked about his goals, he said: “We are at Real Madrid. There are no limits for us. “If I can score 50 goals, then (the goal is) 50 goals. But the most important thing is to win and improve as a team. Because we’re going to win as a team.”
Bellingham and head coach Carlo Ancelotti were also smiling at Mbappe’s performance. Bellingham said: “Mbappe is brilliant. He’s so sharp. His technical quality is really high and he’s a great teammate. Credit to him,” he said. “Mbappe did really well, he adapted well to the team, he played well with Vissinius and Bellingham,” said Ancelotti, who added: ”Of course we have a lot of quality, but we have to play together. We did that tonight.”
A shocking relegation to the second tier is not out of the question. Even the Premier League’s (PL) chief executive officer (CEO) is calling for severe punishment.
“CEO Richard Masters has spoken out against the hearing of Manchester City’s 115 charges, which could lead to relegation if found guilty,” the UK’s Sports Bible reported on Thursday.
City are looking to win a record fourth consecutive PL title and a fifth consecutive season. They signed Xavi, who was a revelation in La Liga last season, and managed to keep hold of Kevin De Bruyne, who was linked with a move to Saudi Arabia. They also beat Manchester United in the Community Shield on Tuesday to lift the trophy.
But there’s a key variable. City could be relegated to the second tier, let alone the title, depending on the outcome of a hearing into 115 alleged financial rules violations prosecuted by the PL.
City were charged by the PL in February.
The PL began investigating City’s breaches of Financial Fair Play (FFP) rules in 2018 and found 115 charges. The PL secretariat’s position is that City breached the PL rules on profitability and sustainability (PSR), as well as UEFA regulations.
In December of last year, City’s hearing date was set for September 2024. The main allegations are inflated financial reporting and lack of cooperation with a PL investigation that began in 2018. Of course, City denied all the allegations and claimed to have “irrefutable evidence” to support their innocence, 사설 토토사이트 but that didn’t stop the hearing itself.
The 10-week hearing is now a month away. The UK’s Daily Mail reports, “The hearing into City’s 115 alleged breaches of PL financial rules will finally begin next month. PL could hear the outcome as early as January next year.”
City were already punished by UEFA in 2020 with a two-year ban from UEFA-organized competitions for breaching FFP rules. However, the club escaped punishment when the Court of Arbitration for Sport (CAS) overturned the conviction due to lack of evidence. Nevertheless, the PL is pressing charges once again.
The Masters CEO emphasized the need to tie up loose ends for the benefit of the league.
“It’s time for the case to be resolved,” he told the BBC, adding, ”This has been going on for years, and I think it’s a clear case that needs to be heard and answered.”
Masters added: “The case will be heard and a conclusion will be announced. We’ll answer all the questions they want to hear in the process,” Masters said, adding, ”It’s an important issue. (Legal disputes) create uncertainty and frustration.”
He added: “There is no alternative to enforcing the rules that everyone agreed to. They looked each other in the eye, shook hands, and said, ‘We’re going to honor these rules. So PL has to enforce them,” he said, adding, ”No matter what challenges or setbacks arise, it’s all part of protecting PL’s competitiveness and core values.”
With the CEO speaking out, it’s hard to imagine City escaping heavy penalties if found guilty. City will have to defend against 54 counts of failing to provide accurate information, 14 counts of failing to provide details of player and manager salaries, seven counts of breaching the PSR, five counts of failing to comply with UEFA regulations, and 35 counts of failing to cooperate with PL investigations since 2018.
The charges span 14 seasons, dating back to the 2009-2010 season.
There’s also the possibility of relegation, which would be a record punishment. According to the Daily Mail, “The most severe punishment is relegation. “The investigation began in 2018 when ‘Spiegel’ released the Football Leaks documents. City were accused of siphoning money from the owners through a United Arab Emirates sponsor.”
In fact, Everton and Nottingham Forest were both punished with point deductions for FFP violations last season. Everton were deducted a whopping eight points, while Nottingham lost four. City’s fate will be revealed as early as next January.
Meanwhile, Pep Guardiola has previously complained that everyone is looking for guilt. “We are innocent until proven guilty,” he said last December. I know people want (City to be punished). Pep can feel it. I will wait,” he said, adding: ”I will not consider my future whether City remain in the PL or Ligue 1 (the third tier). I have a better chance of staying when we are in Ligue 1 than when we are in the UEFA Champions League.”
Liverpool’s Japanese captain, Wataru Endo (31), is still not out of the woods.
“Liverpool are open to selling Endo, one of Jürgen Klopp’s last signings,” the UK’s The Sun reported on Wednesday (June 13), adding, ”He has slipped down the pecking order in the race for a starting role at Anfield. He has slipped down the pecking order in the race for the Anfield starting XI,” and ‘Liverpool could still offload Endo after missing out on Martin Subiemendi (Real Sociedad),’ the Sun reported.
Endo, the Japan national team captain, joined Liverpool from Stuttgart last summer. The move was a surprise after Klopp praised his steady defensive play.
Despite some concerns, Endo adapted to the Premier League like a veteran. He made 43 appearances in his debut season, including 29 league games, and became a mainstay in Liverpool’s midfield.
It was enough to earn him a passing grade.
“When we signed the 31-year-old Japanese midfielder, did anyone expect him to be an outstanding player in the PL? Nobody knew, but it happened. Endo has developed into a world-class player,” he said. However, their relationship ended after just one year. Klopp suddenly decided to take a break from soccer, citing ‘burnout’.
New coach Arnaut Slott didn’t think much of Endo, and in preseason, he opted to play Dominik Sobosler and Ryan Grabenbergh in defensive midfield instead of Endo.
Eventually, Slott went in search of a new No. 6 midfielder, and he pointed to Subramendi. 메이저사이트 “Liverpool are confident they can complete a deal for Subramendi,” The Times reported. They are expecting Subramendi to move to Anfield” and ‘Slott is believed to be keen to move on from Endo’.
A Sociedad Sacral youth product, Subramendi is one of La Liga’s top defensive midfielders. At 6’2”, he’s not the biggest of players, but he’s a very solid defender with a great sense of stability. His passing skills also allow him to be the initiator of the buildup from the back.
He’s the definition of a 6th midfielder that many teams are looking for.
The arrival of Subramendi would naturally relegate Endo to the bench, and according to The Athletic, Liverpool would be willing to sell him if the right offer came in. Japan’s Soccer Digest also reported that “Endo will continue to compete for a place at Liverpool, but his prospects are far from bright: ”He is likely to be on the release list and leave this summer. If he doesn’t, he will struggle to get a chance throughout the season.”
The Sociedad side had no intention of holding on to Subramendi either. The Athletic said that a €60 million buyout clause could be a stumbling block, but added: “Sociedad expect Subiemendi to agree to join Liverpool. If Subramendi wants to leave, they will fulfill his wishes,” he explained.
However, things have changed quickly.
Instead of joining Liverpool, Subramendi decided to stay at Sociedad, the club he had been with all his life. His midfield partner Mikel Merino’s impending move to Arsenal made it even harder for him to leave the club.
“Liverpool initially thought Subramendi would be open to a move and made an effort to sign him,” says The Athletic. However, he rejected a move to Anfield. The deal was complicated by the fact that Subramendi’s €60 million buyout clause would have to be paid in full.”
There is hope in Japan that Endo could be rehired. “According to Paul Joyce, Liverpool are unlikely to pursue another No.6 midfielder at the moment,” said Japanese outlet Ultra Soccer, ”and the arrival of Subramendi has opened up the door for Endo, who was forced to compete for a place.” He also praised Endo’s performance against Las Palmas, raising expectations.
However, Liverpool are still looking to offload Endo.
According to The Sun, “Slott seems to see Grabenberger and Stefan Wijnaldum as better options in holding roles than Endo. This casts doubt on the future of Endo, who wants to play in the first team,” and claims that ”Endo could be on his way out of Anfield after just one season.” For Endo, losing out to Vaičetić, a 2004-born youngster with no first-team experience, is effectively a release slip.
Celtic and Marseille are monitoring Endo’s situation. According to The Sun, “Celtic are believed to be very high on Endo, who has fallen out of contention for a place at Liverpool. Brendan Rodgers believes a move for Endo would help strengthen his position in Scotland and on the European stage.”
Marseille were already in the hunt for Endo this summer. They reportedly made a €14 million bid for the midfielder but were unsuccessful. However, if they come back with a higher offer, Liverpool would have no reason to reject it. The Sun believes that Endo’s price tag will be around £15 million, with Marseille more likely to win the battle than Celtic.
If Endo does stay at Liverpool, Gravenberger will be his biggest competition. The midfielder is more of an attacking midfielder than Endo, but he has shown in pre-season that he can be transformed. Liverpool fan site Anfield Watch also believes that Grabenbergh would be the “ideal solution”.
Lee Kang-in (21, Paris Saint-Germain) shared a hug with basketball star Kevin Durant (35, Phoenix Suns), who has become a minority shareholder of PSG.
“Durant, a two-time National Basketball Association (NBA) champion, has invested in PSG with his company Bodrum Sports. He has purchased a minority stake in the club,” PSG announced on social media on Wednesday.
Durant even visited PSG’s training center in person. On its YouTube channel, PSG shared footage of Durant meeting and greeting PSG youth players, women’s team players, and men’s first team players. Durant was also presented with a jersey by PSG captain Marquinhos.
Lee also made a brief appearance, shaking hands and hugging Durant, who was all smiles. Lee is not a small man at 174 centimeters, but standing next to Durant, who is 211 centimeters tall, he was more than a head taller.
Durant is one of the NBA’s biggest superstars.
His salary for the upcoming season alone is reportedly over $51 million (approximately KRW 69.2 billion). He recently competed in the Paris 2024 Olympics, helping Team USA win the gold medal. By winning gold in four consecutive tournaments, Durant became the first player in Olympic men’s basketball history to win four gold medals.
Durant, who is a known PSG fan, even became a shareholder by buying some of the club’s stock. He already owns a 5% stake in the Philadelphia Union of the Major League Soccer 카지노사이트 추천 (MLS) and is a co-owner of NJ/NY Gotham of the National Women’s Soccer League (NWSL).
Durant has also invested millions of dollars in PSG. According to ESPN, “Durant’s involvement with PSG is aimed at further developing the PSG brand in the United States from a marketing and sponsorship perspective. In particular, the 2025 Club World Cup and the 2026 World Cup, which will be held in the United States.”
By partnering with superstar Durant, PSG hopes to tap into the fast-growing soccer market in the United States. The club’s president, Nasser Al-Khelaifi, is reportedly close to Durant. “We are honored to welcome Durant to the PSG campus. He is passionate about PSG and we are honored that he recognizes our facilities.”
The 2024-2025 season is an important one for PSG and for Lee.
The club will be entering a new era following the departure of Kylian Mbappe to Real Madrid after seven years with the club. Much of PSG’s brand power has come from Mbappe, and they need to prove that they are a world-class team without him.
Lee faces stiff competition for the starting role. He bounced between the starting lineup and the bench last season, competing with the likes of Vitinha, Fabian, Jair Emery, and Ousmane Dembele. With the addition of João Neves and Desiree Doué, the second-year PSG player will need to step up his game.
Previously, Lee had received an offer from Saudi Arabia. According to France’s Foot Mercato, a Saudi team wants to make him the highest-paid player in the league. They want to pay him more than Cristiano Ronaldo (Al Nasr), who earns €200 million a year.
Of course, this is only the Saudi’s wish, as Lee is one of PSG’s current and future stars. “PSG have kept the door closed on the sale of Lee,” said Foot Mercato. The player is happy in France and has no strong desire to leave.” Lee will continue to play for PSG in the upcoming season.
Casino sales at Paradise, South Korea’s foreign-only casino operator, rose 39.5 percent in June from the previous month, data showed Monday at the Korea Exchange.
Such sales were up about 95.59 billion won ($72.89 million) compared to 68.55 billion won in May. Compared to the same period last year, this is a 633.8% increase from 13.03 billion won in June 2022.
Table game sales rose 42.5 percent sequentially to W91.33 billion in June this year, up 774.1 percent year-on-year.
Paradise Corp’s machine game sales fell 3.9% month-on-month in June, but rose 65.4% from a year ago to 4.26 billion won.
Paradise Co.’s latest casino figures are based on the results of four venues operated by its casino business division: Walkerhill in Seoul, Jeju Grand on Jeju Island, Busan Casino in the southern port city of Busan, and Paradise City in Incheon, near the main international airport serving the Korean capital, Seoul.
Walkerhill generated 61.1 billion won in casino revenue in June, according to separate revenue figures posted on its official website, the biggest contributor to Paradise’s latest monthly earnings.
The company’s monthly update does not provide a comment on the reasons for the earnings change.
The company’s total casino revenue in the first half of 2023 was 352.45 billion won, up 249% year-over-year.
Calendar sales through June 30 rose 274.8% year-on-year to 330.42 billion won. Machine sales rose 71.5% year-on-year to about 220.3 billion won.
Table Drop – Table drop in the first half of this year, the amount customers exchanged for chips at the table, increased 283.8% year-on-year to just under W2.84 trillion.
The earnings of Paradise, South Korea’s foreign-only casino operator, are expected to achieve a “record quarter” in the three months to June 30, JPMorgan Securities (Asia Pacific) said.
“We expect Q2 to be our best-ever earnings/profit quarter,” analysts DS Kim and Mufan Shi wrote in a note on Thursday.
Operating profit for the second quarter “may be greater than operating profit for the whole of 2019,” according to the brokerage firm.
The agency estimates Paradise’s second-quarter operating profit of about 52 billion won to 59 billion won ($46.8 million) for the full year of 2019 before the start of the COVID-19 pandemic.
Paradise’s January-March 2023 operating profit reached 19.02 billion won and sales reached 191.52 billion won, while its shareholders’ net profit for the first quarter was 6.99 billion won.
In a note on Thursday, JPMorgan said it expected Paradise to post revenue of about 280.2 billion won in the April-June period, with net profit of about 33 billion won.
Analysts at the agency said it was “difficult” to analyze the pace of recovery as reopening was very “ununiform” for foreigners in Paradise Co’s three key source markets – South Korea, Japan and China – while airlift capabilities were not yet fully normalised.
They added: “But even skeptics (including our old selves) would agree that pent-up demand here is very real, growing surprisingly quickly above 100% of pre-COVID levels, similar to what we’ve seen in other markets (Las Vegas, Singapore, Macau or even the Philippines).”
“The only sector that hasn’t fully recovered is China VIP, which hasn’t stopped us from posting record sales in June and the second quarter of 2023,” the JP Morgan team said.
Paradise Corp’s casino sales rose 39.5% month-on-month to about 95.59 billion won in June.
According to the broker, the casino company “reduced its employee numbers by about 20% during the downturn, many of which were relatively high-paying senior positions.”
“Staff costs are a single maximum cost item comprising more than 40% of Paradise’s pre-COVID cash operating expenditure (tax excluded), and we expect the group’s overall operating expenditure to be more than 15% below pre-COVID levels,” Kim and Shi said.
They added: “Paradise has not operated very efficiently in the past (compared to casinos in other jurisdictions), so this headcount reduction will be a significant revenue driver.”
Paradise’s earnings before interest, taxation, depreciation, amortisation (EBITDA) and operating profit margins could almost double/tripling to about 25% and 15% in fiscal year 2023, respectively, according to JPMorgan estimates.
British media Spurs Web reported on the 11th (Korea Standard Time) that “Spence hoped to completely transfer to Genoa this summer,” adding, “However, it seems unlikely that he will return.”
Italian media “Tuto Mercato” reported that Spence was attracted to playing for Genoa. Genoa had a complete transfer bid to recruit him. However, it has given up on recruiting Spence due to difficulties in negotiations with Tottenham.
“Genoa has decided that the transfer fee for Spence is too high. Therefore, he brought Alessandro Zanoli from Napoli on loan. The possibility of Spence’s transfer to Genoa has decreased,” he added.
Spence joined Tottenham in the 2022-23 season. After playing for Middlesbrough since 2018, he showed his best performance when playing for Nottingham Forest. He led Nottingham Forest to promotion through his strong performance in the 2021-22 season.
Tottenham, who watched this performance, immediately started recruiting. In July 2022, Tottenham signed a five-year contract with Spence. It was brought in for a transfer fee of £20 million. Expectations were high for young and talented Spence.
Spence, a 184-centimeter right-back, has the biggest advantage of breaking through a devastating dribble from the side. Based on his active overlapping, he also boasts a one-on-one defense capability. His potential on the right side was considerable.
Antonio Conte did not give him a chance. He had to leave on loan to Stade Rennes after playing only six games in his first season. The same was true for the 2023-24 season. Manager Enze Postecoglou had no intention of using him. He left on loan for Leeds United for one season.
However, he returned from a loan mid-season. Leeds United had no intention of using him. Initially, it was reported that he ended his loan early due to his poor physical condition. However, it turned out that he lacked professional consciousness and had discipline problems. There were also reports that there was even a habitual tardiness problem.
“We didn’t reach the level that Daniel Farke wanted,” said Phil Hay of The Athletic, a British media outlet. “There were also problems such as tardiness. As a result, it made more sense for Leeds United to send him back.”
Spence then moved to Genoa on loan. After moving to a different team, he started eight of 16 Serie A matches and spent happy days. He expressed his desire to be with Genoa.
However, the situation has changed. Amid difficulties in negotiating transfer fees between Genoa and Tottenham, Spence has begun to get a chance. More and more games are starting in the preseason. He also started in a match against Bayern Munich in Korea.
On top of that, Emerson Royal is also expected to leave the team. There is no clear right-back except for Pedro Porro. If Spence takes a position, the backup problem could also disappear. Spence is expected to help Tottenham by staying instead of transferring.
Tim McNally, the non-executive chairman of Hong Kong-listed Naga Corp Ltd., told GGRAsia that he is “totally confident” about Cambodia’s “future leadership and political stability” after news broke that Cambodia will have a new prime minister. Nagakov has a monopoly on longevity casinos in Phnom Penh, the capital of Cambodia, which operates a Naga World game and hotel complex.
On Wednesday, it was announced that Hun Sen, the current prime minister, would step down next month after 38 years in power. The news came after his Cambodian People’s Party was declared the overwhelming winner of Sunday’s parliamentary elections.
Local media reported that Hun Mane is likely to succeed his father Hun Sen as prime minister.
“We have full confidence in our future leadership and political stability within the country,” McNally told GGRAsia. “We wish the current prime minister good health and good luck.”
The chairman added that Nagakov was “non-political in its business activities in Cambodia” as a public company.
“We will continue to work effectively with the Cambodian government leadership on issues affecting our business,” he said
In addition, Nagarwold will “continue to invest and promote as a tourist destination aimed at growth” and “significantly contribute to the overall efforts and success of the country to grow and maintain a strong tourism industry,” the chairman added.
“As a company, we are currently focused on Naga 1 and 2 business operations and look to the future with Naga 3 construction and planned expansion,” McNally said, referring to Naga World’s two phases currently in operation and others under construction
In a June filing, the company acknowledged that completion of Naga 3 had been delayed by four years to 2029. It added at a Hong Kong briefing last week that the podium portion may open ahead of the rest of the site. Naga 3 includes three hotel brands: JW Marriott, Grand Hyatt and some of its own-brand accommodation.
Last week, Nagakov reported net income of $83 million in the first half of the year to June 30, up 57.4% from a year ago.
“Stocks linked to the entertainment and tourism sectors are likely to benefit from allowing the Chinese government to travel to more destinations by allowing group tours,” suggests Douglas Kim, an analyst presenting commentary on the Smart Karma platform.
Mainland Chinese authorities said Thursday they would allow group travel to more destinations, including Japan, South Korea, Australia and the United States, a potential benefit for their tourism industry.
Japanese Prime Minister Fumio Kishida and tourism ministers from South Korea and Australia welcomed the easing of group tours, saying it would help boost their economy.
Foreign-only casinos in South Korea have historically received a portion of their income from customers outside of mainland China.
In pre-COVID times, Japan was a popular destination for Chinese tourists, despite sometimes political tensions between the two countries. Although the first and only project ever approved for Osaka is unlikely to take place until 2030 at the earliest, Japan is creating its own casino gaming market.
Since the beginning of this year, China’s Ministry of Culture and Tourism has announced the approved list for group tours of 60 countries in two separate times. The list has now been expanded to 78 destinations.
Before the COVID-19 pandemic, mainland Chinese tourists spent more abroad than any other country’s. Mainland Chinese tourists spent a total of US$255 billion in 2019, with group tours estimated to account for about 60% of that, according to Reuters.
However, observers recently noted that it will still be some time before outbound Chinese tourism picks up again in the group’s countries, as international flights to and from China recovered to 53% of 2019 levels as of July, according to official data.
In a commentary, analyst Kim said a total of 19 South Korean stocks were “most likely to benefit” from travel easing by Chinese travel groups. They included several companies that run foreigner-only casinos in China.
“The recovery in South Korean casino operations in the second half of 2023 should help Chinese visitors, especially customers in the mass market, return home,” Brokerage NH Investment & Securities said in a note in late May.
Group tours from China to Korea have been suspended since 2017 in connection with a dispute over Korea’s deployment of the U.S. missile defense system. China has never publicly acknowledged restricting group tours to Korea.
