The gaming firm funneling cash for global multi-level marketing scheme

The gaming firm funneling cash for global multi-level marketing scheme
Since Emerge Gaming announced its Miggster program with Crowd1 late last year, the Australian Securities Exchange has issued Emerge with seven different Query Letters. (Image: Screengrab)
Australian Financial Review
The Australian corporate watchdog is monitoring ASX-listed Emerge Gaming, which last week revealed 98% of its revenue is derived from Crowd1 Network, a multi-level marketing company that has been the subject of warnings from several international regulators including in New Zealand.Emerge Gaming, a small Perth-based company with a market capitalisation of just A$30 million, booked revenues of A$10.9 million for the year to June 30, of which A$10.6 million came through sales of its Miggster gaming platform, a white-labelled “e-sports&rdquo...

More Markets

NZ sharemarket up 0.5% ahead of long weekend
Markets Market Close

NZ sharemarket up 0.5% ahead of long weekend

Pacific Edge's share price fell 7.32%.

Tom Raynel 24 Apr 2025
Pacific Edge suffers another setback in US
Markets

Pacific Edge suffers another setback in US

Shares in cancer diagnostics company Pacific Edge are down 2.44% to $0.120 after another setback in the US market.The US District Court for the Middle District of Pennsylvania has determined that it does not have jurisdiction to review a Local Coverage Determination (LCD) that co...

Staff reporters 24 Apr 2025
Listed retailers stand to gain from Trump tariffs:  Forsyth Barr
Retail

Listed retailers stand to gain from Trump tariffs: Forsyth Barr

Forsyth Barr lifted its KMD Brands target price by 10.4% after Trump tariff walkbacks.

Gregor Thompson 24 Apr 2025
NZ sharemarket rises as Trump backs down
Markets Market Close

NZ sharemarket rises as Trump backs down

The S&P/NZX 50 Index closed up 1.01% or 119.78 points.

Tom Raynel 23 Apr 2025