Net profit of Malaysian conglomerate Genting Malaysia BHD shrank to MYR191.1 million (US$46.5 million) in the third quarter of 2017, dragged by hefty impairment plus higher expenses and finance cost.

In a disclosure to Bursa Malaysia on Thursday, the casino-to-plantation conglomerate reported that its net profit plunged 67 percent from MYR 574 million (US$139.37 million) in the same period last year.

Revenue, on the other hand, rose 7.7% to MYR5.04 billion ($1.23 billion) during the period from MYR4.68 billion (US$1.14 billion) a year ago, it said.

“The Malaysian leisure and hospitality business reported lower revenue in third-quarter 2017 despite higher volume of business aided by the opening of new attractions and facilities under the Genting Integrated Tourism Plan (GITP). This was primarily due to lower hold percentage in the mid to premium players business segment,” the company said.