Ultimate Gaming was the first company to obtain its online poker license in Nevada during 2013 and went on to launch Ultimate Poker. The company had relatively no competition during the initial few months and had full monopoly over the market but found it hard to capture market share as online poker players were not entirely happy with the initial product launched under Ultimate Poker.
The company took a few months to sort out all of its customer complaints but by that time Nevada had already granted licenses to other online poker providers, including the WSOP.
Ultimate Poker had lost its advantage in Nevada but continued to expand and launched operations in New Jersey by forming a partnership with the Trump Taj Mahal Associates LLC based out of Atlantic City.
Things did not work out for Ultimate Gaming when the Trump Taj Mahal filed for bankruptcy in September 2014, thereby also forcing Ultimate Gaming to shutdown operations in New Jersey. Ultimate Gaming released a statement back in September stating that it was closing down its New Jersey operations to concentrate solely on the Nevada market as it wanted to establish itself as a leading provider in the online poker market.
Ultimate Gaming released a statement on the 14th of November stating that it had decided to also shutdown its online poker website in Nevada as it was unable to sustain a profitable operation in a competitive market. Ultimate Poker has informed its players that its online poker operations would be shutdown with immediate effect and has sent them instructions on how they should go about closing their account and withdrawing their balances.
In a statement, the Chairman of Ultimate Gaming, Tom Breitling said
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’s biggest competition came from the WSOP brand that captured a significant share of the market with the first two months of launching. The WSOP online poker website in Nevada managed to attract more than twice the amount of online traffic that the Ultimate Poker website was receiving. Ultimate Poker traffic continued to decline throughout the year and as a result revenue also started to dry up. Players who would like more information on how to successfully withdraw their earnings from the Ultimate Poker website can visit the Ultimate Poker website and click on the support link.