Casino operator Donaco International saw its fiscal fortunes fade due to reduced VIP activity at its Cambodian casino.

On Thursday, the Australian-listed Donaco reported its revenue in the six months ending December 31 falling 14.3% to A$59m, while earnings fell 14.8% to A$33.3m but net profit after tax rose 5% to A$14.1m thanks to a A$1m reduction in corporate costs during fiscal H1.

Donaco’s flagship Cambodian property Star Vegas had a rough ride in H1, with revenue down 16% to THB 1.2b (US $34.3m), as average daily visitor levels dropped 15% year-on-year. The company pinned part of the blame on last October’s death of the king of Thailand, which kicked off a 100-day mourning period that kept some Thai gamblers from making the trek.

Star Vegas’ VIP turnover fell 17%, in part due to the previous year’s H1 having an additional “VIP event” but also due to some VIPs shifting their business to Star Vegas’ main gaming hall. Compounding matters, VIP win fell 0.26 points to 2.75%.