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

Mon, 06 Sep 2021

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...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Already a Subscriber ? Sign in here.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Finance

RBNZ cuts number of jobs by 20%

The Reserve Bank claims $11m of cost savings via Project Denby’s 20% job cuts.

Staff reporters 12:01pm

The Quiz Free

QuiznessDesk, Wednesday, Oct 29

Can you beat the quizmaster?

The Quizmaster 9:15am

The Wall Street Journal

The good vibes are back on Wall Street

The S&P 500 is up 17% so far this year.

The Wall Street Journal 6:30am

Sponsored

NZ risks losing edge as Australia takes lead in cleaner jet fuel

Experts warn SAF delay could cost jobs and growth.

Z Energy

Sponsored

Focus on safety of SME vehicle fleets

Vehicle glass repairer’s work enhances road safety.

Smith & Smith

More Markets

Finance

RBNZ cuts number of jobs by 20%

The Reserve Bank claims $11m of cost savings via Project Denby’s 20% job cuts.

Staff reporters 12:01pm

Markets

Sky TV secures exclusive NZ broadcast rights for Olympic Games

Sky TV has secured exclusive New Zealand broadcast rights for the Olympic Games through to 2032.The agreement with the International Olympic Committee means Sky will televise the 2028 Summer Olympics in Los Angeles and 2032 in Brisbane, and the 2026 Winter Olympics in Milano Cort...

Staff reporters 9:28am