International casino operator Genting Malaysia Bhd reported a net profit of RM230.92 in Q2 2015, down 9.2% from the same period a year ago.

Genting Malaysia Bhd, in a filing with the Bursa Malaysia Stock Exchange, said that the lower profit is attributable to higher pre-opening expenses for Resorts World Birmingham, which will open this year, and the Genting Integrated Tourism Plan—the company’s 10-year master plan for the redevelopment of Resorts World Genting.

Total revenue is up 4% to RM1.98 billion from the prior corresponding period. EBITDA is down 5% to RM436.0 million, despite the 34% increase in adjusted EBITDA achieved by the leisure and hospitality business in the US and the foreign exchange gains on the company’s USD denominated assets.

Revenue from the Malaysian leisure and hospitality business increased by 1% to RM1.3 billion, mainly due to an overall higher volume of business. The gains came despite lower hold percentage in the premium players business and the introduction of Goods and Services Tax (GST) in April 2015.