Casino operator MGM Resorts’ stock took a pounding on Thursday after the company posted lower than expected earnings due to softness at its Las Vegas properties.

MGM released its Q4 and FY16 numbers on Thursday, and the company’s domestic resorts showed revenue up 17% to $1.8b in the three months ending December 31. However, revenue was up only 2% on a ‘same store’ basis, i.e. excluding contributions from the new National Harbor casino in Maryland and the fact that MGM now owns 100% of Atlantic City’s Borgata.

Domestic casino revenue was up 3% while room revenue gained 4% on a same store basis. MGM blamed the sluggish domestic growth in part on a lower number of convention-goers sleeping it off in an MGM hotel room. Adjusted property earnings were up 1% to $493m on a same store basis, well below analysts’ forecasts of $543m.

The MGM China operations in Macau reported flat revenue of $500m in Q4. Main floor table games were down 2% but VIP table revenue rose 7%. However, the VIP gains were due to MGM getting lucky, posting a win rate of 3.7% compared to 3% in Q4 2015. Actual VIP turnover was down 16% year-on-year.