The fast-growing esports entertainment and gaming company with a global presence, (AGAE), released its latest financial update, highlighting key details for its performance during the . The company reported strong growth in revenue, complemented by a decrease in costs and expenses. In total, AGAE’s hit . A year-over-year comparison showed that this result represented a . The leading gaming and entertainment company confirmed that the jump in revenue comes after an related to its naming rights agreement for , its flagship esports facility. Further factors that positively impacted on the company’s revenue included a strategic investment in dating back to October. AGAE’s latest financial update revealed that its total costs and expenses in 2023 halted at . This result, compared to the 2022 figure, showed a . The company explained: “The net decrease in costs and expenses of $3.9 million is primarily due to a $3.2 million, or 30% reduction in general and administrative expenses, consisting principally of a $1.5 million Employee Retention Credit recognized in 2023, stock-based compensation of $0.9 million, payroll and payroll-related costs of $0.8 million, and insurance and rent expenses of $0.2 million each.” Despite the decrease in the overall costs and expenses, AGAE said that it incurred a slight uptick in its . Those expenses amounted to . On the other hand, adjusted EBITDA for 2023 was a . In contrast, for 2022, adjusted EBITDA was a . AGAE’s net loss in 2023 was , compared to a net loss for $2022 of . The Company Retains a Positive Momentum Gained in 2023 , AGAE’s CEO, explained that 2023 for the company as it was able to make significant progress on its strategic objectives. Moreover, he added that the company . “Allied Esports International, Allied Mobile Entertainment, and Allied Experiential Entertainment are all poised for growth as we ,” explained Chen. When it comes to the , the results did not disappoint. Total revenues reported by the company for Q4 marked a 70% year-over-year increase to . The gaming and entertainment firm said that the growth in revenue was and two months of Z-Tech operations.” While in 2023 there was an overall decrease in total costs and expenses, in Q4, the company saw a . Expenses and costs reported for the fourth quarter hit , a result that showed a 2% increase when compared to the corresponding period in 2022.