Bookmakers William Hill paid £87m in additional online and retail gambling taxes in the UK last year, which dragged down the company’s profits.

Hills released its official 2015 retrospective on Friday, which showed group revenue falling 1% to £1.59b, while operating profit fell 22% to £291.4m and profit after tax slipped 8% to £189.9m. Hills blamed the slide on those aforementioned taxes, the lack of a major football tourney, unfavorable sporting results and fewer retail shops.

Focusing on the positives, CEO James Henderson chose to celebrate the progress his firm had made in its three strategic priorities – omni-channel, technology and international – which he maintains have positioned the company well for growth in 2016.

Online operations accounted for 35% of Hills’ group revenue, up from 32% in 2014. Sportsbook revenue improved 4% to £264m while gaming rose 5% to £287m but cost of sales rose 147% — including £66.4m in new UK online point-of-consumption tax – resulting in a 29% decline in online profit to £126.5m.