Casino operator MGM Resorts‘ profit rose nearly two-thirds in Q1 despite a double-digit revenue decline.

Revenue in the three months ending March 31 fell 11.3% to $2.33b but net income rose 65% to $169.9m. Total gaming revenue was down 19% to $1.28b while most non-gaming revenue streams were up slightly – except entertainment, which fell 6% due to “a decrease in in-house shows and timing of certain arena events.”

Revenue from MGM’s wholly owned domestic resorts came to $1.6b, up half a percentage point from the same period last year. Slots revenue and handle were up 5% and 9% respectively while table game hold percentage fell 0.7 points to 20.1%. CFO Dan D’Arrigo said Q1 was negatively impacted by high rollers opting to delay their trips to Vegas to coincide with last weekend’s Mayweather v. Pacquiao tilt at the MGM Grand.

MGM’s 50% share of Atlantic City’s Borgata property came to $12m while its share of the CityCenter property in Vegas added $101m. This latter figure was up more than seven-fold from 2014 due to a financial settlement with a developer. Absent this one-off, MGM’s CityCenter haul was a more modest $22m, although this would still represent an over 50% year-on-year improvement.