Casino operator MGM Resorts says it will delay the opening of its new Macau property due to that market’s ongoing revenue slump.

MGM announced its Q4 and FY15 results on Thursday, reporting similar results as the two other US casino operators with business in Asia, with domestic operations improving and Macau business declining.

For the three months ending Dec. 31, MGM reported revenue falling roughly 8% to just under $2.4b, while operating income swung from $266m in Q4 2014 to a $1.2b loss. Net losses were up more than five-fold to $1.47b.

The net loss was pinned primarily on a $1.5b write-down related to “market conditions” plaguing its MGM China subsidiary, which runs the company’s Macau business.