Macau casino operator SJM Holdings endured double-digit declines in earnings and profit last year, while its share of the overall Macau market fell to a new record low.

Figures released Wednesday show SJM’s 2017 gaming revenue was essentially flat at HKD41.3b (US$5.3b), while adjusted earnings fell 10% to HKD3.1b and profit slumped 15.6% to just under HKD2b.

SJM’s VIP, mass market tables and slots revenue were all essentially flat year-on-year, despite the overall Macau market revenue rising nearly one-fifth over the same period. SJM’s share of Macau’s broader casino market fell to 16.1% in 2017, down from 19.1% in 2016, which was itself down from 2015’s 21.7%.

SJM CEO Ambrose So said the company remained optimistic about the future of Macau and claimed SJM was entering 2018 “in a strong position.” For the record, that’s the exact same phrase So used when discussing the company’s disappointing 2016 results, so read into that what you will.