Junket investor Iao Kun Group Holding Company (IKGH) is closing one of its Macau casino VIP rooms due to the market’s ongoing challenges.

On Friday, IKGH announced that it was undertaking a comprehensive strategic review of its Macau VIP gaming operations in order to enhance its operating performance. IKGH chairman Lam Man Pou said the review was necessary “given the lack of recovery” in Macau’s VIP market and “expectations that this will continue for the foreseeable future.”

IKGH has an interest in five VIP gaming rooms in Macau but turnover at these rooms fell 47% in the first half of 2016. IKGH now believes that the current volume of rolling chip turnover in Macau “does not warrant the operation of five VIP gaming rooms.”

The most immediate impact of the strategic review is the closure of IKGH’s VIP gaming room at Las Vegas Sands’ Sands Cotai Central and the termination of IKGH’s relationship with King’s Gaming Promotion Ltd. IKGH says the closure should generate annual cost savings of around $750k.