Online poker provider Ultimate Gaming has announced that it will be leaving the Nevada online poker market after 18 months of operation, shuttering its Ultimate Poker website in the state.
The decision to leave was made due to a player pool that was too small, which resulted in less profits for the operator. In September the entire state of Nevada's online poker market brought in just $693,000. Online poker monitoring site PokerScout reported that Ultimate Poker's average player number over a 7 day period was just 60.
The closure of the Nevada site is the second for the company this year, as Ultimate Poker pulled out of New Jersey in September when the Taj Mahal filed for bankruptcy.
Commenting on the closure Ultimate Gaming Chiarman 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."
"We are grateful to the Nevada Gaming Commission and Gaming Control Board for allowing us to be the first company to operate online poker in Nevada and greatly appreciate their leadership and support as the first state to license and regulate online poker. We are working closely with the Gaming Control Board to ensure a smooth transition for our customers as we cease Nevada operations."
UNLV Center for Gaming Research Director David Schwartz also commented, telling the Associated Press: "I think the future has got to be a bigger market than Nevada. In the big picture, Americans have shown they like playing poker online."
Nevada gaming regulators will monitor Ultimate Gaming's closure, ensuring that all taxes and player payments are made on time.