The Malta Gaming Authority has published its audited financial results for 2015 showing that the nation posted a 4.3% increase year-on-year in total revenues from gaming to €60.9 million ($67.2 million).

The Malta regulator declared that gaming taxes for the twelve months to the end of December rose by 4.9% year-on-year to €55.8 million ($61.6 million) while revealing that the sector now accounts for 8.2% of the island nation’s economy.

“2015 has been a very intensive and rewarding year on many fronts for the Malta Gaming Authority,” read a statement from Joseph Cuschieri, Executive Chairman for the Malta Gaming Authority. “The results strengthen our determination to continue with our plans to enhance our regulatory performance. The aim of the three-year strategy launched in 2014 is to create a sustainable industry base in the face of the challenges emanating from the European and global gaming sphere as well as harnessing the growth of the sector through the diversification of markets and products made possible by innovative technologies and emerging markets.”

The report from the Malta Gaming Authority shows that the country’s land-based gaming sector, which includes Dragonara Casino, Casino Di Venezia and Portomaso Casino, grew by 3% year-on-year with total gross gaming revenues reaching €78.1 million ($86.2 million) while the aggregate staked amount for the twelve-month period hit €333.1 million ($367.9 million) with winnings coming to €255 million ($281.6 million).

Regarding remote gambling, the Malta Gaming Authority explained that 2015 saw it issue 88 new licenses, which represented a 4% boost year-on-year. Accordingly, taxes from this sector grew by over 9% when compared with the previous year to €28.1 million ($31 million) with the majority of this at €13.2 million ($14.5 million) coming from online sportsbooks.

“An increased focus on quality, innovation, fairness, consumer protection, proportionality, evidence-based regulation and consistency run through the building blocks of the Malta Gaming Authority, its processes and the policy initiatives being taken up,” read the statement from Cuschieri.