Casino operator MGM Resorts is singing Donald Trump’s praises after a $1.4b tax break allowed the company to mask a year-on-year profit decline.

On Tuesday, MGM released its Q4 earnings report, which showed overall revenue rising 5.7% to $2.6b in the three months ending December 31. Operating income declined over one-fifth to $223m while net income hit $1.4b versus just $24.7m in the same period one year earlier.

However, that profit gain came courtesy of the Washington tax reforms approved last year, which gave MGM a $1.43b non-cash income tax benefit, boosting earnings per share to $2.42. Without that windfall, the earnings gain would have less than a penny per share.

Domestic resorts revenue improved 5% year-on-year to $1.9m in Q4. However, excluding contributions from the new MGM National Harbor venue in Maryland, domestic revenue was down 3% as overall slots handle, table drop and revenue-per-available-room all declined.