Ultimate Gaming, the first company to legally offer online poker in the U.S., is quitting the New Jersey market following the bankruptcy of Trump Taj Mahal, its land-based casino partner in Atlantic City.
The unit of closely held Station Casinos LLC, which is based in Las Vegas, has terminated its online gaming agreement with the casino “due to multiple breaches” after it filed for Chapter 11 protection, according to an e-mailed statement today. Ultimate Gaming said it will continue to offer online poker in Nevada.
New Jersey legalized Internet gambling last year in an effort to create new revenue and marketing opportunities for casino owners. Under the agreement, online operators were required to keep their computer servers in an Atlantic City casino. Since then, online gambling revenue has failed to meet expectations and five of the city’s 12 casinos have closed or said they will close this year.
Atlantic city has also been hurt in recent years by increased competition in neighboring states.
Trump Entertainment Resorts Inc., the casino company founded by Donald Trump and the parent of Trump Taj Mahal, filed for bankruptcy court protection on Sept. 9. The company has said it may have to close Trump Taj Mahal in November.
Station Casinos, led by Las Vegas’s Fertitta family, was the first to offer online poker in Nevada last year.
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