Saipan casino operator Imperial Pacific Holdings International (IPI) saw its revenue more than double in the first half of 2017 but rising expenses – including a steep hike in bad VIP gambling debts – kept a tighter leash on profits.

A filing with the Hong Kong Stock Exchange on Monday showed IPI’s gross revenue of HKD 7.3b (US$933m) in the six months ending June 30, an increase of 82.5% over the same period last year. But expenses more than tripled to HKD 2.9b, resulting in a more modest 26% gain in adjusted earnings to HKD 1.62b, while profit rose nearly 9% to HKD 912m.

VIP gaming accounted for nearly HKD 7.1b of IPI’s H1 revenue total, while mass market table games generated only HKD 147m and slots and electronic table games contributed a mere HKD 34m.

The H1 figures represent activity at the now closed ‘temporary’ casino Best Sunshine Live. In July, IPI transferred Best Sunshine’s gaming operations to IPI’s new permanent venue Imperial Pacific Resort • Saipan, which is still finishing work on its hotel and other non-gaming amenities.