Ultimate Poker Shuts Down Nevada Online Poker Site for Good

Danielle ‘dmoongirl’ Andersen had been one of the few remaining Ultimate Poker pros still extant before the web site announced it shut down in Nevada.

Ultimate Poker has shut down its Nevada online poker web site, ending a run that is 19-month becoming the first regulated Internet poker web site in the usa. The organization has now become the first also to finish operations in Nevada, leaving simply two other poker providers mixed up in state.

The Ultimate Poker closure will, at the very least for the present time, leave Ultimate Gaming with no active Internet gaming operations in the United States. 8 weeks ago, the company also pulled out from the New Jersey market, citing the issues that are contractual had been having because of the Trump Taj Mahal.

Revenues Didn’t Live Up to Expectations

‘Online poker revenues in Nevada have actually fallen far short of original projections,’ stated Ultimate Gaming Chairman Tom Breitling. ‘Moreover, the state-by-state approach to online gaming has created an extremely cost-prohibitive and operating environment that is challenging. These factors have combined to make the course to profitability really hard and uncertain. Consequently, we have determined to cease operations.’

Ultimate Poker suffered from what numerous saw as inferior software and deficiencies in brand recognition. However the site had hoped to replace with this in Nevada by beating the competition to the market, something it attained by launching several months before anyone else could allow it to be through their state’s regulatory demands.

Early Advantage Evaporates with Competition

That advantage place the company in a position that is excellent the early days of the state’s regulated Internet poker market. However it was just a matter of time before bigger names came in to the state to compete, and the room that is second enter industry was a bit of a juggernaut: the Caesars-backed WSOP.com, which featured the well-known (and well-respected) World group of Poker brand.

Before very long, WSOP.com had surpassed Ultimate Poker because the site that is biggest within the state. While Ultimate held on to a tiny player base, WSOP.com now controls about two-thirds of the market, a share that will end up nearly 100 % once the Ultimate Poker shutdown is complete.

Since Ultimate Gaming left New Jersey, there had been some signs that the company was attempting to control costs. That included cutting a lot of the site’s stable of professional poker players, including Jason Somerville. Mostly of the remaining Ultimate pros, Danielle ‘dmoongirl’ Andersen, stated she found out in regards to the final end of Ultimate Poker in Nevada on Twitter.

‘Obviously saddened by the @UltimatePoker news,’ Andersen tweeted on Friday afternoon. ‘Appreciative of most the opportunities they provided for myself & the poker community. All I can perform is hope like hell the future is brighter because of this game I love so much.’

Smooth Shutdown Expected for Players

Ultimate Gaming says they work with state regulators to make certain a shutdown that is smooth and there generally seems to be no basis for players to be worried about the safety of their account balances at this time.

‘we have been grateful to your Nevada Gaming Commission and Gaming Control Board for allowing us to be the company that is first operate online poker in Nevada and significantly appreciate their leadership and support as the first state to license and control internet poker,’ Breitling said. ‘Our company is working closely with the Gaming Control Board to make certain a smooth transition for our customers as we cease Nevada operations.’

The exit of Ultimate departs just two poker rooms remaining in the Nevada market. Along with WSOP.com, there is also the true Gaming site operated by South Point Casino, though that site has negligible traffic.

Mohegan Sun appears to Expansion as Connecticut Takes on Massachusetts

The Mohegan Sun Casino in Uncasville, Connecticut will fight customers that are losing neighboring Massachusetts. (Image: kickingdesigns.com)

Mohegan Sun is now steeling itself to defend myself against Massachusetts, in the place of beating a retreat that is humiliating losing the bid for an east Massachusetts casino permit this present year.

Sunlight wants to create a casino that is new north Connecticut to compete with the $800 million MGM Resorts casino scheduled to open across the border in Springfield in 2017.

The Springfield casino is expected to derive a third of its visitors from Connecticut, putting Mohegan Sun in a position that is offensive keep its land gambling population from bleeding throughout the state border to Massachusetts.

Sixty % of Massachusetts residents voted in favor of keeping casino video gaming adhering to a public referendum in this year’s midterm elections, meaning that MGM and Wynn Resorts, the latter of which had been awarded the east Massachusetts permit at the expense of Mohegan Sun, are actually free to push ahead with their projects.

And while Connecticut may have been praying that voters would choose to ‘repeal the offer,’ their state must now act to safeguard its casino industry from potentially competition that is devastating.

‘The competition is on. The competition has begun,’ chairman of the Mohegan tribe Kevin Brown declared in an interview with the Connecticut Mirror this week.

‘This isn’t a conversation that is new however, it really is certainly a revived discussion,’ he added. ‘we need to do something in the real face associated with development of Massachusetts gaming. To do otherwise would be short-sighted on our part.

‘[The Massachusetts casino developers] definitely have not been shy about saying they’re not ones to lose any longer revenue from Massachusetts gamers going to Connecticut,’ he added.

Game on, apparently.

Financial Peril

Moody’s Investment Analysts warned month that is last Mohegan Sun could face ‘financial peril’ after losing the East Massachusetts casino license. Had it won, said video gaming analyst Keith Foley, its monetary situation ‘would have improved materially.’ The Mohegan Sun Casino in Uncasville is extremely leveraged, he added, and could face significant debt payment just as the two proposed Massachusetts casinos open their doors for company in 2017.

Both Connecticut casino resorts, Mohegan Sun and Foxwoods, were hit hard by the worldwide downturn that is economic of and tend to be over $1 billion in debt.

Difficult Procedure

While expansion may be into the cards, it will likely be a long and difficult legislative procedure. Connecticut has sanctioned gambling enterprises in its southeast since the early nineties in return for a part of the profits. Just the Mohegans and also the Mashantucket Pequots, who run Foxwoods, are permitted to use casino gambling in the continuing state, because of the provision that no other entity may do this.

What this means is that expansion would have been a complex legal procedure, https://slotsforfun-ca.com/quick-hits-slot-review/ requiring the approval for the legislature, the governor and both tribes.

However, Brown told the Connecticut Mirror that he had had some ‘point-to-point conversations’ with Mashantucket Pequots’ tribal chairman Rodney Butler on the issue and that ‘both agree that these (discussions) are a necessary move.’

Meanwhile, Representative Peggy Sayers, whom recently oversaw a legislative task force studying local video gaming competition, concluded that Connecticut ‘must just take bold and immediate action to protect and expand our state’s gaming industry.’

And Representative Stephen Dargan, frontrunner of the panel that oversees gaming regulation issues in Connecticut, said this week that he wants to hold a hearing later in the month on how best to protect the industry.

Revel to Reopen Under New Owners, While Nj-new Jersey Showboat Goes Collegiate

Atlantic City’s Revel will reopen as a casino that is new but exactly when remains unclear. (Image: Ben Fogletto/pressofatlanticcity.com)

The new owners of Atlantic City’s Revel Casino, Toronto-based asset management company Brookfield Asset Management Inc., have established they will invest $200 million to redevelop the formerly swank property, using the aim of reopening it once more year that is next. Brookfield bid $110 million for the property at auction month that is last a small fraction of its original $2.4 billion building cost.

James Kehoe, chairman of brand New Jersey’s Casino Reinvestment Redevelopment Authority, said that the investment team expects to perform the purchase next month. Apart from that, he added, the group has not set a detailed timetable for Revel’s next phase.

Revel was a grand plan designed to regenerate Atlantic City, but was conceived unfortunately hitting the market simply as the global economic downturn from which Atlantic City has neglected to recover went into full swing.

Combined with the Showboat, it had been certainly one of four of Atlantic City’s 12 casinos to close in 2014, with another, the Trump Taj Mahal, not likely to see in the brand new Year. Revel exposed amid much fanfare in 2012, but with its huge operating costs, it failed to ever turn a profit, and by the time it closed early in the day this year, had been leaking over $1 million a week.

From Showboat to Satellite Campus

Meanwhile, Richard Stockton College has snapped up the Showboat Casino from Caesars Entertainment for the undisclosed sum. The home, on the Atlantic City Boardwalk, will become a satellite campus for the undergraduate university, which is located in Ponoma in Atlantic County.

The Showboat shut its doorways in August, having unsuccessful to find a buyer, and despite being truly a operation that is profitable owners Caesars Entertainment. The Mardi Gras-themed casino opened in 1987 and had been purchased by Caesars in 1998.

It also had relatively low operating costs, which enabled it to turn a profit of almost $2 million last year while it was the smallest of Caesars’ Atlantic City properties, in terms of net revenue. Nonetheless, by the beginning of 2014, it absolutely was clear that the casino market in Atlantic City had become saturated and the company’s other properties, Harrahs Atlantic City and Caesars Atlantic City, required some elbow room. An element of the purchase contract is the fact that property will never reopen being a casino.

‘There is too much capacity in Atlantic City currently, such that the comes back to existing capacity are under great pressure,’ Caesars CEO Gary Loveman stated recently. ‘So we’re searching at all of our options to decrease the cost of doing business right here, choices to reduce capability.’

Diversifying the City

Stockton President Herman Saatkamp ended up being unable to discuss the details of the purchase, which includes 28 acres, along with the 1,425,000 square-foot building, until it is finalized.

‘Our intent is engage in a task that enhances Stockton’s educational growth, offerings and cost-containment while at the same time brings new educational opportunities to Atlantic City,’ Saatkamp stated. ‘Because we are merely during the letter-of-intent phase and bound by a confidentiality contract, it is premature for me to give out any extra information.’

‘The transformation and revitalization of Atlantic City requires the addition of a diverse set of reasons for people to come see,’ said Loveman, commenting in the deal. ‘I believe the construction of a Stockton campus there will help to diversify the economy of the city, which is critical to its well-being that is future.

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