Does this name ring a bell for anybody?
It's a large black enclosure housing a floppy drive with a PCMCIA-like port underneath, into which has been slid a mostly empty rectangular board with a couple small chips (an Altel is one I think) and a wire leading off that. On the back of the main port was a phone jack and a spot for a power supply.
It doesn't seem likely to be directly gaming related but I wonder if it's not a development emulator for some kind of system.
The words "HU GOLD EMU 4" (I believe I'm remembering this correctly) were on the little slide-in board.
No idea what's inside the thing.