Macau casino operator Galaxy Entertainment Group (GEG) shook off a downturn in the second half of 2014 to post improved annual revenue.

GEG’s earnings fell 25% to HKD 2.7b (US $348m) in Q4, reflecting the malaise gripping the broader Macau gaming sector. GEG’s flagship property Galaxy Macau saw earnings fall 19% to HKD 2b as revenue fell 8%. VIP turnover was down 23%, which was better than Macau’s other operators, who have endured falls of up to 44%. Galaxy Macau’s mass market earnings fell 8% but non-gaming revenue rose 17% to HKD 408m.

StarWorld Macau earnings were down 38% to HKD 645m as VIP revenue fell 29%, mass win fell 19% and non-gaming revenue was flat. The City Clubs branded casino business reported earnings of HKD 33m and the construction materials business added HKD 164m.

For the year as a whole, GEG revenue gained 9% to HKD 71.8b while earnings rose 5% to HKD 13.2b and net profit rose 3% to HKD 10.3b.