Macau junket operator Neptune Group has warned investors that it will post a “substantial” loss in its current fiscal year.

On Tuesday, Neptune issued a statement alerting shareholders to the expected loss in its fiscal year ending June 30, which it blamed on “the closure of a VIP gaming lounge in Macau in which the Group has a 20% interest.”

The room in question is located at Galaxy Entertainment Group’s StarWorld Hotel. In 2009, Neptune acquired a 10% stake in the Lucky Star operation, upping this stake to 20% in 2012. But Lucky Star plans to close by July 1, resulting in the “material impairment of an intangible asset and charge to profit and loss account” for Neptune’s fiscal year. Neptune will publish its FY results by the end of September.

Macau’s yearlong revenue decline hasn’t been kind to junket operators, with 34 junkets shutting down last year alone. On Monday, Daiwa Securities Group issued a note saying Neptune could lay off over 300 staff by the end of June. Casino workers association Forefront of Macau Gaming (FMG) confirmed this report, saying some of its members were being pressured to voluntarily resign.