Casino operator Genting Singapore ended 2015 with profits plunging into the red as it continued its struggles in the VIP segment.

The company’s profit for 2015 fell 70 percent to S$193.1 million ($138 million), which according to Thomson Reuters data, was Genting Singapore’s smallest since 2010, the year when the Resorts World Sentosa first opened.

For the fourth quarter of 2015, the casino operator’s net profit was also down to S$22 million, compared to Q4 2014’s $118.9 million. Genting’s adjusted earnings before interest, tax, depreciation and amortization (EBITDA) also fell 5 percent to S$181.3 million for the period.

Union Gaming analyst Grant Govertsen believes that Genting Singapore’s current state was due to “VIP bad luck and bad debt.”