Ultimate Gaming is leaving the New Jersey regulated online gaming market. This includes the brands Ultimate Poker and UCasino.
Ultimate Gaming has terminated its agreement with Trump Entertainment, its Atlantic City partner. According to Ultimate Gaming, the decision was blamed on the Trump Taj Mahal bankruptcy and multiple breaches of contract. Ultimate Gaming is owed about $1.5 million, according to a bankruptcy filing involving Trump Entertainment.
The sites are no longer accepting deposits.
No official closing date has been announced.
Update: Ultimate Gaming will cease operations at 11:59pm on September 21, 2014. Players will need to withdraw from their account by September 28. Any balances not claimed up to that point will be delivered to the registered address on the account. This information was included in an email sent to players and reported on Twitter by Chris Grove.
The tournament schedule shows events through September 20.
Players with U$ saved should consider spending them on one of these events or use them in a UCasino slot machine to turn them into cash before making a withdrawal request.
Update: U$ and tournament tickets will be converted to cash and included in withdrawals.
Ultimate Poker has consistently placed fourth among regulated poker sites over the 10 months since New Jersey launched online gaming. Its poker market share has hovered around 2 percent, this despite offering some of the best promotions in the history of online poker.
UCasino holds last place in New Jersey in terms of casino market share. Its $4.5 million in casino revenue accounts for about 7 percent of the market.
Player funds are held in separate accounts. Withdrawal requests will be honored. Players can initiate a cashout at any time through the software’s cashier section.
This move does not affect Ultimate Poker in Nevada. The site is the second largest out of three in that market. It was the first regulated poker site in the U.S. when it launched on April 30, 2013.