Russian bookmaker BetCity has become the first betting operator to make the annual list of Russia’s top 500 companies.

On Thursday, Moscow-based media outlet RBC issued its annual list of the country’s 500 largest companies, and Russian bookmaker BetCity just managed to sneak onto the list’s lower rungs, marking the first time a local sports betting operator has achieved such status.

BetCity ranked 495th on RBC’s latest list, with an estimated profit of RUB48m (US$724k) in 2017, an eight-fold increase over the company’s net take in 2015. While BetCity’s profit appears pitifully small compared to many western operators, the company is getting better at squeezing profits from betting turnover, as total betting volume increased only RUB1b to RUB18b ($271.5m) over that same span.

BetCity launched its Russian-language site in 2003 and later opened a chain of retail betting shops that has since grown to 160 points of sale. BetCity’s Russian-licensed website ranked sixth on a SimilarWeb survey of website traffic for Russian bookmakers in the month of April.