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

Fonterra urges Canada to 'play by the rules'
Primary Sector

Fonterra urges Canada to 'play by the rules'

NZ, US and Australia believe Canada is undermining legitimate export interests.

Too few NZ ports earning 'appropriate returns'
Infrastructure

Too few NZ ports earning 'appropriate returns'

Port returns over the past decade 'disappointing and alarming'. 

Govt support needed to make sustainable aviation fuel
Markets

Govt support needed to make sustainable aviation fuel

Other countries may hesitate to export sustainable aviation fuel to NZ.