Portugal’s brick-and-mortar casino market returned to growth in 2015, although it has a long way to go to recover its former glories.

According to the Associação Portuguesa de Casino (ACP), the country’s 11 casinos reported revenue of €288.6m in 2015, an 8% improvement over 2014’s total. However, that is but the first step in eliminating the 37% decline the local casino industry experienced between 2008 and 2014.

Total table game revenue improved 12.4% while slot machine revenue rose 7.2%. The ACP blamed the poor slot showing on increased competition from international online casino sites. Portugal is preparing to institute a new regulated online gambling regime but high tax rates and ring-fenced poker rooms could keep operator interest to a minimum.

Portugal’s leading casino operator Estoril-Sol, whose chairman is Macau casino icon Stanley Ho, earned the bulk (€182.3m) of 2015’s casino take. The Lisboa Casino led all comers with €78.9m, up 7.8% year-on-year, while the Estoril casino rose 6.5% to €61.5m and the Povoa de Varzim added €41.9m.