Improved gaming revenue from the premium mass segment helped casino operator Genting Singapore to rake in a SGD159.2 million (US$112.4 million) net profit in the final quarter of 2016.

The October to December 2016 net profit data was a turnaround from a net loss of SGD7.8 million (US$5.52 million) in the same period a year ago, Genting Singapore said in a regulatory filing on Tuesday.

“With ongoing uncertainty in the macroeconomic and political environment, coupled with a difficult Asian gaming market, we continue to adopt a measured approach in the VIP gaming business,” Genting Singapore said. “The impairment of receivables relating to this business segment has reduced since we calibrated our credit policies and remodeled our commission structure. We have seen our profit margins improve in this segment.”

True enough, Genting’s bad debt provisions whittled down by 14.2 percent to SGD38.9 million (US$27.51 million).