Macau casino operator SJM Holdings reported profits falling nearly two-fifths as the market’s VIP gambler drought shows no sign of abating.

In the six months ending June 30, SJM reported revenue falling 20.6% to HKD 21.1b (US $2.7b), while earnings were down nearly 28% to HKD 1.6b and profit fell nearly 39% to HKD 1.1b.

The gaming revenue numbers were uniformly negative, with mass market table games down 11.5%, slot machine revenue down 8.3% and VIP gaming down 28.5%.

SJM’s overall market share fell 2.3 points to 20% in H1, while its share of the VIP market fell 2.8 points to 18.4%. SJM’s average number of VIP tables in action during H1 fell 29.4% to 361 while its mass tables increased by 6.5% to 1,301.