Las Vegas-based casino operator MGM Resorts International’s weak projections for the third quarter sparked yet another round of casino stock sell-off on Thursday.

MGM stocks dropped to a 52-week low after MGM Chairman and CEO Jim Murren announced that its net income dropped 41 percent to $123.8 million or $0.21 a share for the three months that ended June 30, 2018. MGM also registered a revenue of $2.86 billion in the second quarter of 2018, below analysts’ expectations of $2.99 billion.

“Our second quarter came in better than we expected and we made significant progress to capitalize on future growth opportunities in sports betting and Japan,” Murren said in a statement.

MGM was the latest casino giant to report disappointing results and trim its business forecast as demand faltered in Las Vegas and Macau.