Macau casino operator SJM Holdings saw profit fall nearly two-thirds in 2015 as the company’s VIP gambling revenue was cut in half.

SJM reported total revenue of HKD 49.2b (US $6.3b) in 2015, representing a year-on-year fall of nearly 39%. Adjusted earnings fell 50% to HKD 3.86b while profits fell 63.4% to HKD 2.5b. All but HKD 600m of SJM’s total revenue came via gaming activity.

The company says profits would have been slightly higher were it not for a HKD 250m impairment loss on some equity securities and the loss of HKD 143m via the suspension of one of SJM’s satellite casinos. But still, you know, sucktastic.

SJM’s VIP gaming revenue fell 48% to HKD 25b, while VIP chip sales fell 55%. SJM’s complement of VIP tables fell from 571 at the end of 2014 to just 476 by Dec. 31, 2015. The number of junket operators in action at SJM casinos last year underwent a similar contraction, falling from 35 to just 19.