Alternate Reality Games (ARGs) offer some unique capabilities for teaching skills related to teamwork and leadership, particularly in the realistic context of tasks and working relationships which evolve over days or weeks. This paper reports on the results and lessons learned from two semesters of deploying an educational ARG-based activity within an MBA course. We describe the pedagogical goals, development of a reusable platform for deploying educational ARGs, scenario design, level of effort needed to administer the game, learner interactions, and learning results. Because some features typical in entertainment ARGs are likely to cause pedagogical or logistical difficulties, the ARG paradigm was modified to address such challenges. For example, a standard characteristic of ARGs is that the majority of participants act as passive observers rather than actively contributing to group work products, potentially negating the benefit of “hands-onâ€� learning. To address this issue of low average participant activity, the instructor simultaneously deployed many parallel “shardsâ€� rather than a single instance of the unfolding scenario. Running multiple separate instances of the event facilitates greater average participant activity, but also demands different technology infrastructure and event administration. We also describe the impact of different levels of player anonymity. The learning experience was more successful for groups participating using player-selected pseudonyms, compared to groups participating using their real names or using assigned anonymous identifiers. This effect may be related to participants being more willing to explore a challenging activity when their real identity is hidden, and being more invested after selecting their secret identity. Finally, we discuss future directions and how the overall design approach and framework could be applied in military education.