The very first company to legally offer online poker in the United States, Ultimate Gaming; has called it quits in the New Jersey area, after their partner, that runs the Atlantic City based casino, Trump Taj Mahal, filed for bankruptcy. After it was confirmed that Trump Taj Mahal filed for Chapter 11 protection, Station Casinos LLC, decided to terminate its online gaming agreement with the company. By filing for the Chapter 11 protection, the company has committed several breaches of the initial agreement between themselves and Ultimate Gaming, leading to the agreement termination.
Ultimate Gaming has still chosen to continue to offer online poker in Nevada, but is officially terminating their New Jersey online poker agreement. Since many gamblers have moved out of Atlantic City to other areas to gamble, the government of New Jersey legalized online gaming in an effort to help raise revenue for casinos. To be in full compliance and lawful agreement with online casino gaming laws in New Jersey, casino owners are required to keep their servers inside a physical casino in Atlantic City. Even with the legalization of online gambling in New Jersey, it did not live up to expectations of bringing in the much needed revenue, and due to lack of income, and loss of customers, many casinos are choosing to close their doors.
With many casinos not being able to bring in the regular profits they did in previous years, and being unable to keep old customers, or bring in enough new customers; even with the legalization of online gaming, several casinos will not be around to see 2015. The Revel Casino is perhaps the biggest loss to Atlantic City this year. It was recently built, and at the cost of $2 billion, it never turned a profit and is closing its doors for good in September 2014. The reason behind this is speculated to be that it was more of a resort that happened to have a casino, than a casino that happened to have a resort! Without the main focus being on gambling, they just could not draw in enough customers to make the $2 billion price tag worth wild and keep it open.
Donald Trump is the founder of Trump Entertainment Resorts Inc. and of Trump Taj Mahal. Trump Entertainment Resorts Inc., filed for bankruptcy on September 9, 2014, leading to the breach of their agreement with Ultimate Gaming. The Trump Taj Mahal, expects that they may have to close the casino, possibly for good, in November 2014. Because of heavy competition from other states, it has hit Atlantic City hard, leading to these types of casino closures. The Las Vegas-based Fertitta family Leads Station Casinos LLC, which was the first company to offer online gaming in the state of Nevada, starting in the year 2013.