The Las Vegas Review-Journal reports that the Fertittas have closed down Ultimate Gaming and thereby shutter Ultimate Poker. After 19 months, the company indicated lack of profitability for closing down its business operations.
The article stated that Stations Casinos is the majority owner of Ultimate Gaming. Online poker revenue “fell far short of once-lofty projections,” stated Ultimate Gaming Chairman Tom Breitling in the article. Only Nevada, New Jersey and Delaware allowed online gambling and for Ultimate Poker to accept wagers the players must be physically in the state.
UltimatePoker.com was a sponsor of the UFC. It launched in May 2013 but with the limited amount of potential players, the once novel idea, turned to out to be a dud.
Payout Perspective:
The news of the closure comes the week before New Jersey hears oral arguments in a lawsuit filed by sports leagues (i.e., NFL, NHL, NBA and MLB) seeking a temporary injunction from passage of a law allowing the state to accept bets on sports games. Although the NBA opposes the New Jersey law, NBA Commissioner Adam Silver penned an Op-Ed in the New York Times this week supporting legalizing and regulating sports betting. As for the closure of Ultimate Poker, expect Zuffa to look into other ways to monetize the future of gambling. In the meantime, it means one less UFC sponsor in the Octagon.
One down hahahahaha
World Domination!!!!!!!!!
I’ve been reading a lot of about this at 2 plus 2 and it seems a big problem was the big wigs not listening to the customers/players input…
“The failure of Ultimate Poker is a classic tale of clueless and arrogant upper management steering a sinking ship into a whirpool, and slapping the hands away of anyone below them attempting to correct the course.”
http://forumserver.twoplustwo.com/29/news-views-gossip/ultimate-gaming-goes-busto-1489030/
Sounds familiar doesn’t it?
Ultimate Poker Post Mortem – Former Director of Player Operations for Ultimate Poker talks gives his take on the failed Poker Site.
https://www.youtube.com/watch?v=SgFiRjwH5NM
hahah, UFC is next, they got crushed by Bellator last night!
Ahahahahahahaha
Is “lack of profitability” code for “we can’t lose any more money on this business”.
lol, exactly.
Gotta love that terminology… “Lack of Profitability”. Funny stuff.
Current gambling laws in the US are equal parts stupidity and hypocrisy.