South Korean casino operator Kangwon Land Inc extended its losing streak in the second quarter with net profit tumbling 10.7 percent from the prior-year period.

Kangwon Land, the only South Korean casino that’s legally allowed to cater to local residents, posted a KRW110.4 billion (US$96.9 million) net profit, the second casino operator to announce a dismal second quarter result.

Analysts pointed out that Kangwon’s second quarter data was the “worst” result posted by Kangwon Land in more than five years.

“The disappointment came from mass (-9 percent year-on-year) and slots (-7 percent), while VIP (-3 percent) didn’t help either,” JP Morgan Securities analysts DS Kim and Sean Zhuang in a Wednesday note. “In our view, this seemingly reflects Kangwon Land’s efforts to ‘adjust’ revenues lower amid regulatory scrutiny, and the timing of business normalization remains frustratingly uncertain.”