Casino gross gaming revenue (GGR) in Macau grew at a moderate pace in June, much to the disappointment of gaming analysts.

Financial records showed that Macau casino GGR grew by 12.5 percent to approximately MOP22.49 billion (US$2.81 billion) last month compared with MOP19.99 billion (US$2.49 billion) in June 2017. The result was lower than the analysts’ consensus of 18 percent.

The June results brings Macau casinos’ GGR tally for the first half of 2018 stood to nearly MOP150.22 billion ($18.66 billion), a year-on-year expansion of 18.9 percent.

Gaming analysts attributed several factors behind the GGR slowdown in the last two months after a having stellar runs in April and March 2018, with international brokerage Union Gaming noting that business volumes across Macau fizzled in the last week of June.