Hong Kong-listed gaming services company Success Dragon has given up its greyhound racing and horse racing agreements in Vietnam, citing adverse changes in the country’s regulatory environment.

In a filing, the company announced that it has terminated its deals with Sports and Entertainment Services (SES), Xuan Thanh Greyhound Racing (XT) and Thien Ma-Madagui Racing (TMM), effective June 28, 2017. Success Dragon provides hardware and software equipment for the three companies, as well as outsourced management services for SES’s greyhound racing business in Vietnam.

The termination is in response to the changes in the regulatory conditions—including a cap on daily betting amounts for Vietnamese players and ban on international simulcast of races—which Success Dragon said “make the operating environment for provision of services for racing business as contemplated under the agreements unattainable.”

The company estimated it will incur HK$111 million (US$14.22 million) losses from “operating loss incurred for approximately HK$40 million; one off impairment loss on the property, plant and equipment of approximately HK$70 million.”