The Tigre de Cristal casino in Russia’s far east Primorye gaming zone reported a slight gaming revenue decline in 2018, but the company that controls the property still managed to turn a small profit.

On Monday, the Hong Kong-listed Summit Ascent Holdings – which holds a 60% stake in the subsidiary that owns Tigre de Cristal – reported a net profit of HK$4m (US$509k) in 2018 after posting a net loss of nearly HK$10m in 2017. However, the turnaround was largely due to income accrued via non-casino investments and increased cost controls.

Revenue from Tigre de Cristal’s gaming and hotel operations dipped slightly to HK$463m following disagreements with the property’s junket operators over rebate levels, which led the company to bring in new VIP promoters and refocus its attention on the premium mass segment.

VIP gambling turnover fell 17% to HK$15.6b last year, while VIP net win fell 30% to HK$484m, and the company’s share of that sum following rebates slumped 35% to HK$109m. The decline wasn’t helped by a half-point fall in VIP gambling hold to 3.11% (which is still above the theoretical win range).