Enthusiast Gaming Holdings Inc (TSE:EGLX) has released an update.
Enthusiast Gaming Holdings Inc. has reported a decrease in revenue by 13% for Q4 2023 and a 12% drop for the full year, but highlighted an increase in gross profit and an expanding gross margin, signaling a strategic shift towards profitability. The company’s focus on core communities and cost reduction efforts aim to streamline operations and strengthen financial performance. Despite a net loss due to non-cash impairment charges, there was growth in direct sales and a rise in unique visitors, maintaining its rank as the #1 Gaming Property in the U.S.
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