Ultimate Gaming, the parent company of Ultimate Poker, today announced it will discontinue all operations in the state of Nevada effectively immediately after complying with all of the state’s gaming regulatory requirements.
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This announcement follows the company’s decision in September to also cease operations in New Jersey, thus bringing an end to the company’s foothold in the US real-money regulated gaming marketplace.
The gaming operator blamed a combination of its original revenue projections falling short on top of the costly red-tape created by the state-by-state regulatory framework.
Chairman of Ultimate Gaming Tom Breitling announced the company’s decision in a press release, “As has been the case in other jurisdictions, online poker revenues in Nevada have fallen far short of original projections. Moreover, the state-by-state approach to online gaming has created an extremely cost-prohibitive and challenging operating environment. These factors have combined to make the path to profitability very difficult and uncertain. Consequently, we have decided to cease operations.”
Ultimate Poker became the first regulated gaming site in the United States when it opened its virtual doors in Nevada on April 30, 2013, bringing in a wave of excitement to players in the state and hopes to players in other states that regulated online poker would open up to them sometime soon. The gaming company should always have its name in the poker history books for being the post-Black Friday pioneers.
This point was not lost on Breitling, “We are grateful to the Nevada Gaming Commission and Gaming Control Board for allowing us to be the first company to operate online poker in Nevada and greatly appreciate their leadership and support as the first state to license and regulate online poker. We are working closely with the Gaming Control Board to ensure a smooth transition for our customers as we cease Nevada operations.”
If you played on Ultimate Poker and are seeking more information on your account, the company encourages you to head to www.ultimatepoker.com and click on “Support.”