MGM China Holding Ltd. has reportedly received approval from majority of its lenders to amend the terms of its HKD23.4 billion (US$3 billion) loan.

A Bloomberg Business report quoted sources with knowledge of the matter who said the Macau unit of Las Vegas-based MGM Resorts International has gotten a nod from “two-thirds of its lenders to relax its financial conditions.” The conditions include “loosening covenants on its leverage ratio,” the sources told the news outlet.

The reason: the declining revenue of casino companies in the city state “are making it difficult for companies to meet their lending requirements,” the sources said, according to the report. The consent came before a Jan. 29 deadline.

In the original agreement, MGM China has a maximum total leverage of four times after the first anniversary of its new Cotai casino, but the casino operator asked to raise the maximum total leverage to six times “from the second quarter of 2016 until the same period in 2017,” according to the Bloomberg Business report. MGM Cotai is scheduled to open in the fourth quarter of this year.