As the very first online gambling site to provide a legal and regulated environment for gamblers in the state of Nevada, Ultimate Gaming was expected to do well. However, after just nineteen months of operations, the company is calling it quits in the state of Nevada.
The ReviewJournal is reporting that the company announced on Friday that they would be ceasing operations in the state of Nevada due to lack of profits. The Station Casinos owns the majority of the company and has used their casinos in the southern portion of the state to market the poker website Ultimate Poker via their land-based casinos.
Tom Breitling, the Chairman of Ultimate Gaming, stated that the Nevada online poker revenues fell short of the estimated projections and an extremely cost-prohibitive and challenging operating environment has been created by the state-by-state approach for legalized online gaming that is currently taking place in the US.
Breitling stated that these factors combined have made it difficult for the company to make a profit as well as provide uncertainty which made the company decide to cease operations. At the time of the announcement, Ultimate Poker stopped accepting wagers from players online and the company then must comply to the regulation requirements in the state. Players can find out more information by visiting the Ultimate Poker site and choosing the Support tab.
Back in September, Ultimate Gaming closed down operations in the state of New Jersey, claiming ‘multiple breaches’ of their contract with the Trump Taj Mahal Associates LLC, which was their land based partner within the state. The Ultimate Casino site of the state was holding steady with earnings at around $500,000 a month but the online poker site of the brand was never able to gain ground.
However, in Nevada, Ultimate Poker was a solid contender with online gaming, having online one remaining competitor, the WSOP.com poker site. Now, Ultimate Gaming will no longer be offering their services in either state and will be one less operator in the already small United States online gambling industry.
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