Ultimate Poker Shuts Down Nevada Internet Poker Site for Good

Ultimate Poker Shuts Down Nevada Internet Poker Site for Good

Danielle ‘dmoongirl’ Andersen was one of the few remaining Ultimate Poker pros still extant before the site announced it shut down slotsforfun-ca.com in Nevada.

Ultimate Poker has shut straight down its Nevada online poker site, ending a 19-month run after becoming the initial regulated Internet poker site in the usa. The company has now become the first also to end operations in Nevada, leaving simply two other poker providers mixed up in state.

The Ultimate Poker closure will, at the least for the time being, leave Ultimate Gaming with no Internet that is active gaming in the United States. 8 weeks ago, the company also pulled out from the New Jersey market, citing the issues that are contractual was having using the Trump Taj Mahal.

Revenues Didn’t Live As Much As Expectations

‘Online poker revenues in Nevada have actually fallen far short of original projections,’ said Ultimate Gaming Chairman Tom Breitling. ‘Moreover, the state-by-state approach to online gaming has produced an extremely cost-prohibitive and challenging operating environment. These factors have actually combined to really make the path to profitability very difficult and uncertain. Consequently, we have decided to cease operations.’

Ultimate Poker suffered from just what numerous saw as inferior computer software and deficiencies in brand recognition. However the site had hoped to replace this in Nevada by beating your competition to your market, something it accomplished by launching months that are several anyone else could ensure it is through the state’s regulatory demands.

Early Advantage Evaporates with Competition

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

Before very long, WSOP.com had surpassed Ultimate Poker since the biggest site in the state. While Ultimate held on to a tiny player base, WSOP.com now controls about two-thirds of the market, a share that can be nearly 100 percent once the Ultimate Poker shutdown is complete.

Since Ultimate Gaming left New Jersey, there had been some signs that the ongoing company was attempting to manage 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, said she found out in regards to the end of Ultimate Poker in Nevada on Twitter.

‘Obviously saddened by the @UltimatePoker news,’ Andersen tweeted on Friday afternoon. ‘Appreciative of all the opportunities they given to myself & the poker community. All I may do is hope like hell the future is brighter for this game I love so much.’

Soft Shutdown Expected for Players

Ultimate Gaming says they work with state regulators to make sure a smooth shutdown, and there seems to be no reason behind players to be worried concerning the safety of their account balances at the moment.

‘we have been grateful towards the Nevada Gaming Commission and Gaming Control Board for allowing us to be the company that is first operate online poker in Nevada and greatly 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 ensure a transition that is smooth our customers even as we cease Nevada operations.’

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

Mohegan Sun Looks to Expansion as Connecticut assumes on Massachusetts

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

Mohegan Sun is currently steeling itself to battle Massachusetts, in place of beating a humiliating retreat after losing the bid for an eastern Massachusetts casino permit this season.

The sun’s rays wants to build a casino that is new north Connecticut to compete with the $800 million MGM Resorts casino scheduled to start across the border in Springfield in 2017.

The Springfield casino is expected to derive a 3rd 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 per cent of Massachusetts residents voted in favor of retaining casino video gaming adhering to a public referendum in this year’s midterm elections, and thus MGM and Wynn Resorts, the latter of which had been awarded the east Massachusetts permit at the cost of Mohegan Sun, are now actually free to push ahead with their projects.

And while Connecticut may have been praying that voters would choose to ‘repeal the offer,’ hawaii 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 a interview with the Connecticut Mirror this week.

‘This isn’t a new discussion, however, its certainly a revived conversation,’ he added. ‘We need to make a move in the face associated with the development of Massachusetts gaming. To do otherwise would be short-sighted on our component.

‘[The Massachusetts casino developers] undoubtedly haven’t been shy about saying they’re not ones to lose any longer revenue from Massachusetts gamers likely to Connecticut,’ he included.

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 permit. Had it won, said video gaming analyst Keith Foley, its financial situation ‘would have enhanced materially.’ The Mohegan Sun Casino in Uncasville is highly leveraged, he added, and could face significant debt repayment just as the two proposed Massachusetts casinos open their doors for company in 2017.

Both Connecticut casino resorts, Mohegan Sun and Foxwoods, were hit difficult by the international economic downturn of 2008 and so are over $1 billion in debt.

Difficult Procedure

While expansion may be within the cards, it’ll be an extended and difficult legislative process. Connecticut has sanctioned gambling enterprises in its southeast since the very early nineties in return for a percentage of the profits. Just the Mohegans as well as the Mashantucket Pequots, who operate Foxwoods, are permitted to use casino gambling in the continuing state, utilizing the provision that no other entity may achieve this.

This implies that expansion would have been a complex procedure that is legal needing the approval of the legislature, the governor and both tribes.

Nonetheless, 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 required move.’

Meanwhile, Representative Peggy Sayers, whom recently oversaw a legislative task force studying local 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, leader of the panel that oversees gaming regulation issues in Connecticut, said this week that he desires to hold a hearing later in the month on the best way to protect the industry.

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

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

The brand 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, aided by the aim of reopening it once again 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 accomplish the purchase month that is next. Apart from that, he included, the team 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 to hit the market simply as the global downturn in the economy from which Atlantic City has didn’t recover went into full swing.

Combined with Showboat, it was 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 newest Year. Revel started amid much fanfare in 2012, but with its huge operating expenses, it failed to ever turn a profit, and by the time it closed earlier in the day this year, ended up being dripping over $1 million per week.

From Showboat to Satellite Campus

Meanwhile, Richard Stockton College has snapped up the Showboat Casino from Caesars Entertainment for the sum that is undisclosed. The house, on the Atlantic City Boardwalk, will become a satellite campus for the college that is undergraduate that will be based in Ponoma in Atlantic County.

The Showboat shut its doors in August, having unsuccessful to locate a buyer, and despite being a profitable operation for owners Caesars Entertainment. The Mardi Gras-themed casino opened in 1987 and was bought by Caesars in 1998.

While it had been the smallest of Caesars’ Atlantic City properties, in terms of web revenue, additionally had relatively low operating costs, which enabled it to turn a profit of nearly $2 million last year. But, by the start of 2014, it absolutely was clear that the casino market in Atlantic City had become saturated and the business’s other properties, Harrahs Atlantic City and Caesars Atlantic City, needed some elbow room. Part of the purchase agreement is that the home will never reopen as 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 said recently. ‘So we’re looking at all of our options to reduce steadily the cost of doing business right here, choices to reduce capability.’

Diversifying the City

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

‘Our intent is engage in a project that enhances Stockton’s educational growth, offerings and cost-containment while during the time that is same new educational possibilities to Atlantic City,’ Saatkamp stated. ‘Because we are just at the letter-of-intent stage and limited by a confidentiality agreement, it is premature for me to give out any additional information.’

‘The change and revitalization of Atlantic City requires the addition of a diverse group of reasons for people to come visit,’ said Loveman, commenting regarding the deal. ‘in my opinion the construction of a Stockton campus there will help diversify the economy of the city, which will be critical to its well-being that is future.

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