Macau casino junket operator Iao Kun Group Holdings Ltd (IKGH) says its VIP gambling business declined by more than three-fifths in 2015.

IKGH, which has a VIP gambling presence in five Macau casinos, reported rolling chip turnover of $420m in December, a 40% year-on-year decline from the $710m the company reported rolling in December 2014. On the plus side, win rate was 3.28%, well above the 2.7% to 3% theoretical win range.

For the year as a whole, IKGH fared even worse. While the overall Macau market fell 34.3% in 2015, the VIP market was hit much harder (final VIP-mass share stats won’t be published until later this month). As a result, IKGH reported its 2015 turnover falling 61% to $6.42b, for a monthly average of $540m.

Like the overall Macau market, this is the second straight year IKGH has suffered an annual decline. In 2014, IKGH reported turnover falling 3% to $16.6b, about on par with the Macau market’s 2.6% decline that year.