ugal posted record-high revenue results in the final quarter of the year, with 2017 marking the country’s first full calendar year after launching back in May 2016.

Figures posted by the Serviço Regulação e Inspeção de Jogos do Turismo de Portugal (SRIJ) regulatory body showed that Portugal’s online gambling market generated €122.6m for the full-year. Moreover, the government was able to take €54.2m of this amount, due to a 12% tax on sports betting turnover.

The region ended 2017 on a high, with the seven locally-licensed online gambling operators generating a combined revenue of €36.5m in the three months ending 31 December, 2017, nearly €10m higher than the same period last year and over €7m higher than the same period a year prior.

Online casino, including poker, totalled €54.4m, with slots leading the way after bringing in 45% of this amount, ahead of poker cash games on 19.7%, French roulette with a 19.2% share, blackjack on 9.2% and poker tournaments pm 6.7%.

Nonetheless, sports betting was Portugal’s main cash cow in 2017, accounting for €68.1m of the total revenue generated for the year.

Portugal is set to join France and Spain in a shared liquidity agreement that is sure to see the country have yet another successful financial year.