Macau casino operator SJM Holdings reported a rare net loss in the first quarter of 2020 as its operations were “severely impacted” by the COVID-19 pandemic.

Figures released Tuesday by the Hong Kong-listed SJM show the company generated revenue of HK$3.48b (US$448.8m) in the three months ending March 31, a nearly 60% fall from the same period last year.

Net gaming revenue was down a similarly dire percentage to HK$3.4b, while adjusted earnings tumbled 118.6% to -HK$200m and SJM booked a net loss of HK$409m versus a profit of HK$850m one year ago.

Like all Macau casino operators, SJM has been laid low by the COVID-19 pandemic, which has reduced Macau’s tourist visitation to almost nothing. Average occupancy at SJM’s Grand Lisboa Hotel was only 35.3% in Q1, down from nearly 95% a year ago.