Ultimate Gaming Closes Nevada Online Poker Site
LAS VEGAS — Nov 14, 2014
By KIMBERLY PIERCEALL Associated Press
Ultimate Gaming's gamble on online poker in Nevada didn't pay off.
After shutting down its operations in New Jersey, the company announced Friday that it had closed its Ultimate Poker online business in Nevada, too, citing trouble making a profit as long as online gambling is limited to a pool of players in single states, so far just three nationwide.
http://winsgame.com/poker
The company, owned by Las Vegas-based neighborhood casino-hotel company Station Casinos LLC, was the first to launch a legal online poker site in Nevada in early 2013.
State regulators will be monitoring the closure to assure that all customers receive everything they're owed and the state gets its tax revenue, said A.G. Burnett, chairman of the Nevada Gaming Control Board.
The board approved the company's closure plan and will be working with officials on a close-of-business audit, he said.
The company didn't mention how many employees might be affected by the closure.
Ultimate Gaming chairman Tom Breitling said in a statement Friday that online poker revenue fell short of expectations. Operating the sites in just the three states where it's legal — Nevada, New Jersey and Delaware + made the business costly.
Players in one state can only go head-to-head with other players also physically in that same state.
"These factors have combined to make the path to profitability very difficult and uncertain," Breitling said in the statement.
David Schwartz, director of the University of Nevada, Las Vegas' Center for Gaming Research, said the closure was surprising considering the investment the company made to do business in Nevada. He said he didn't believe anyone who entered the marketplace expected that legal online poker would be limited to three states.
"I think the future has got to be a bigger market than Nevada," he said. "In the big picture, Americans have shown they like playing poker online."
A few unlicensed sites gained huge followings for years until what many professional players refer to as "Black Friday" in 2011 when the federal government shut them down and seized player accounts.
Players can still access unregulated poker sites based off-shore.
Schwartz says it still behooves companies like Ultimate Gaming and other to play by the rules, "because there's going to be consequences when they don't," he said
Ultimate Gaming was the first of three companies to offer legal online poker in Nevada starting in early 2013.
Real Gaming from South Point Casino and the World Series of Poker via Caesars Entertainment remain.
Ultimate Gaming shut down its operations in New Jersey in September after it ended its agreement with Trump Taj Mahal which filed for bankruptcy. It didn't operate in Delaware.
Monday, November 17, 2014
Monday, June 30, 2014
Amaya to Acquire PokerStars and Full Tilt for $4.9 Billion
Amaya to Acquire PokerStars and Full Tilt for $4.9 Billion
June 13, 2014
http://winsgame.com/poker
Amaya and PokerStars come to terms in the late hours on Thursday June 12, Amaya Gaming publicly announced that they would agree to terms to buy-out 100% of Oldford Group’s Rational Group, which includes PokerStars and Full Tilt Poker (including issued and outstanding shares) for $4.9 billion.
As part of the deal, PokerStars CEO Mark Scheinberg and Isai Scheinberg will no longer be associated with the company.
The structure of global poker as we know it will surely be altered thanks to this major acquisition.
Major Details about the Acquisition
Amaya will become world’s largest publicly traded online gaming company, according to the press release (Amaya + Oldford pro forma revenue of $1.3 billion combined in 2013)
Amaya and Rational will combine as complimentary businesses
Rational Group will keep all executive management pieces the same, but all shareholders (Rational and Oldford Groups) must relinquish all shares to Amaya
Reaction
Amaya CEO David Baazov, clearly excited about the aquistion, had kind words for Oldford Group CEO and Founder Mark Scheinberg: “[He] pioneered the online gaming industry, building a remarkable business and earning the trust of millions of poker players by delivering the industry’s best game experiences…”
Scheinberg responded to these comments by reminiscing on the success his company brought: “I am incredibly proud of the business… creating the world’s biggest poker company and a leader in the iGaming space.”
Scheinberg also expressed his best wishes to the company as well as saying that the company is in good hands with a CEO like Baazov at the helm.
Additionally, Executive Director of the Poker Player’s Alliance John Pappas called the acquisition encouraging news for American iGamer’s who have been eagerly anticipating the return of PokerStars to the US Market. He also believes the move will unite many parties of the industry together (tribes, casinos, card rooms, etc.).
New Jersey Online Poker
The impact of the move will surely create a wide-open opportunity for New Jersey Online Poker to make strides in the iGaming industry. Complications with DGE requirements in New Jersey hindered the growth for the Oldford Group’s PokerStars campaign to be at its best. With new ownership, the sky it the limit for PokerStars in New Jersey and rest of the U.S. markets as they open up.
More Info to Come
Amaya Gaming is soon to come out with more details as they finished a conference call early in the morning on June 13.
You can also monitor updates from NJPokerOnline, which will be providing breaking news and updates on these developments.
June 13, 2014
http://winsgame.com/poker
Amaya and PokerStars come to terms in the late hours on Thursday June 12, Amaya Gaming publicly announced that they would agree to terms to buy-out 100% of Oldford Group’s Rational Group, which includes PokerStars and Full Tilt Poker (including issued and outstanding shares) for $4.9 billion.
As part of the deal, PokerStars CEO Mark Scheinberg and Isai Scheinberg will no longer be associated with the company.
The structure of global poker as we know it will surely be altered thanks to this major acquisition.
Major Details about the Acquisition
Amaya will become world’s largest publicly traded online gaming company, according to the press release (Amaya + Oldford pro forma revenue of $1.3 billion combined in 2013)
Amaya and Rational will combine as complimentary businesses
Rational Group will keep all executive management pieces the same, but all shareholders (Rational and Oldford Groups) must relinquish all shares to Amaya
Reaction
Amaya CEO David Baazov, clearly excited about the aquistion, had kind words for Oldford Group CEO and Founder Mark Scheinberg: “[He] pioneered the online gaming industry, building a remarkable business and earning the trust of millions of poker players by delivering the industry’s best game experiences…”
Scheinberg responded to these comments by reminiscing on the success his company brought: “I am incredibly proud of the business… creating the world’s biggest poker company and a leader in the iGaming space.”
Scheinberg also expressed his best wishes to the company as well as saying that the company is in good hands with a CEO like Baazov at the helm.
Additionally, Executive Director of the Poker Player’s Alliance John Pappas called the acquisition encouraging news for American iGamer’s who have been eagerly anticipating the return of PokerStars to the US Market. He also believes the move will unite many parties of the industry together (tribes, casinos, card rooms, etc.).
New Jersey Online Poker
The impact of the move will surely create a wide-open opportunity for New Jersey Online Poker to make strides in the iGaming industry. Complications with DGE requirements in New Jersey hindered the growth for the Oldford Group’s PokerStars campaign to be at its best. With new ownership, the sky it the limit for PokerStars in New Jersey and rest of the U.S. markets as they open up.
More Info to Come
Amaya Gaming is soon to come out with more details as they finished a conference call early in the morning on June 13.
You can also monitor updates from NJPokerOnline, which will be providing breaking news and updates on these developments.
Saturday, June 29, 2013
June 2013 US Online Poker Payment Processing Report
June 2013 US Online Poker Payment Processing Report
6-14-2013
http://diguk.com/rakeback
While Revolution Gaming continues to struggle, the major US facing brands that have adapted to the current US payment processing environment continue to thrive. There are no perfect US facing online poker rooms, but players that are most concerned about getting paid continue to find quality online poker rooms that keep them satisfied. One site received a failing grade this month. This is the first F since Everleaf Gaming ignored its responsibilities to US players in early 2012. Last month's grades are in parenthesis.
May 2013 Report
Bodog/Bovada A (A)
Bovada, the US facing brand of the Bodog Network, once again takes our top honors. Bovada offers players a check by courier for up to $3,000 each month in 1-2 weeks. Some players even receive checks in just five days. The first check each month is free, while additional check requests incur a fee of $50.
Players may also request a bank wire for up to $5,000 for a $50 fee. The first wire each month is free of charge if a player has not also requested a check during the same month. Players must also pay their bank a fee for receiving a wire that is typically about $25, while intermediary banks may also charge a fee to handle the transaction. Bank wires arrive in about one month.
Bovada introduced Visa card credits in the past week. There is a fee of $50, but the option is too new for there to be information on the speed of these transactions. This is different from a debit card option offered by other networks. This withdrawal method requires a player to possess a Visa card and use this card as a deposit method.
Bovada also offers two cash transfer options. These transactions are processed in 1-3 days. Both Western Union (WU) and MoneyGram (MG) are offered by Bovada. The fees are as follows:
Money Transfer/WU
• $100 - $200 Fee: $40
• $201 - $500 Fee: $50
• $501 - $1000 Fee: $80
• $1001 - $2000 Fee: $150
Rapid Transfer/MG
• $100 - $200 Fee: $20
• $201 - $400 Fee: $30
• $401 - $600 Fee: $45
• $601 - $800 Fee: $60
Winning Poker Network A- (A-)
While the Winning Poker Network is not in first place, it has received the most consistent A grade in our survey in the two years since Black Friday. The Winning Poker Network's cashier consists of Americas Cardroom, Black Chip Poker and True Poker. Players on the Winning Poker Network are playing under one of the strongest US facing online gambling companies in the world.
The most popular withdrawal method on Winning Poker is the debit card. Players may request this card for $25 and it arrives in 2-3 weeks. Each withdrawal incurs a $4.95 fee, with a $3 fee for each ATM transaction. There is also a monthly fee and an inactivity fee. Players can expect these transactions to be processed in 2-5 days once the card is in their possession. The maximum weekly withdrawal limit is $2,500 and the max each month is $10,000.
Players are also offered a check by courier that carries a fee of $65. These checks arrive in 1-2 weeks and the first check each month is free. The fastest, but most expensive way to cashout, is by Western Union. These cash transfers are processed in 1-4 days and carry the following fees based on the amount of the request:
• $100 - $299 Fee: $60
• $300 - $499 Fee: $70
• $500 - $749 Fee: $85
• $750 - $999 Fee: $95
• $1,000 - $1,500 Fee: $110
Intertops A- (A-)
Intertops is a Revolution Gaming skin that no longer accepts new US players. Intertops, which is the world’s oldest online sports book, continues to impress the industry with their quick US cashout speeds. The only problem with Intertops is the lack of a free monthly withdrawal.
Players may request a check for up to $3,000 or a bank wire for up to $2,500 for a fee of $50. Each option is processed in 1-3 weeks. Intertops will send a Western Union in 1-2 days. The amounts and fees are as follows:
• $150-$500 Fee: $70
• $501-$1,000 Fee: $85
• $1,001-$2,000 Fee: $180
Merge Gaming C (C-)
Cashout speeds are improving on the Jazette cashier. Players may request a check for up to $2,500. The check should arrive in 9-10 weeks. This speed is consistent and has one advantage. Players that request an additional cashout that does not bring the cumulative value above $2,500 will also see that cashout stacked onto the first one. There is no fee for a check withdrawal on the cashier shared by Carbon Poker, Aced, Sportsbook.com and PlayerOnly, unless a request is made in excess of $2,500 in a month. The fee on multiple monthly cashout requests is $40.
Certain VIP players have been offered Western Union as an option. The fee and speed of these transactions are not yet available.
Lock Poker D (D-)
Reports from certain gaming portals have touted improvements in the Lock Poker payment processing system. These reports are technically correct, but they are still seriously lacking compared to competing US facing sites. The Revolution Gaming flagship is still plagued by cashout delays. US players are reporting 2-3 month delays in Western Union withdrawal requests. Checks are processed in 4-6 months. Neither is impressive, but most reports indicate there is a move in the right direction. Players outside the US are still reporting consistent 45 day cashouts. Lock Poker will be graded low at least until European players are getting paid on time. Slow payments to players outside of the US is typically a sign of liquidity issues.
Juicy Stakes F (D-)
This grade might be the hardest decision I have made in the two years of publishing this report. I have always stated that as long as a US facing online poker room was making an attempt to pay players that I would never go below a D-. Juicy Stakes is paying US players in 7-8 months. One player stated a check that was received in 7.5 months eventually bounced. Others are complaining about requests from 2012 that are still not paid. In my opinion, this is unacceptable. Many US facing online poker rooms offer Western Union cashouts in just days. Juicy Stakes will be graded an F until it finds an alternative to paying US players or significantly improves its check speeds.
Everleaf Gaming was the last US friendly site to receive an F in this survey in April 2012. The network was eventually removed from this report when it became obvious it would not be paying US players.
6-14-2013
http://diguk.com/rakeback
While Revolution Gaming continues to struggle, the major US facing brands that have adapted to the current US payment processing environment continue to thrive. There are no perfect US facing online poker rooms, but players that are most concerned about getting paid continue to find quality online poker rooms that keep them satisfied. One site received a failing grade this month. This is the first F since Everleaf Gaming ignored its responsibilities to US players in early 2012. Last month's grades are in parenthesis.
May 2013 Report
Bodog/Bovada A (A)
Bovada, the US facing brand of the Bodog Network, once again takes our top honors. Bovada offers players a check by courier for up to $3,000 each month in 1-2 weeks. Some players even receive checks in just five days. The first check each month is free, while additional check requests incur a fee of $50.
Players may also request a bank wire for up to $5,000 for a $50 fee. The first wire each month is free of charge if a player has not also requested a check during the same month. Players must also pay their bank a fee for receiving a wire that is typically about $25, while intermediary banks may also charge a fee to handle the transaction. Bank wires arrive in about one month.
Bovada introduced Visa card credits in the past week. There is a fee of $50, but the option is too new for there to be information on the speed of these transactions. This is different from a debit card option offered by other networks. This withdrawal method requires a player to possess a Visa card and use this card as a deposit method.
Bovada also offers two cash transfer options. These transactions are processed in 1-3 days. Both Western Union (WU) and MoneyGram (MG) are offered by Bovada. The fees are as follows:
Money Transfer/WU
• $100 - $200 Fee: $40
• $201 - $500 Fee: $50
• $501 - $1000 Fee: $80
• $1001 - $2000 Fee: $150
Rapid Transfer/MG
• $100 - $200 Fee: $20
• $201 - $400 Fee: $30
• $401 - $600 Fee: $45
• $601 - $800 Fee: $60
Winning Poker Network A- (A-)
While the Winning Poker Network is not in first place, it has received the most consistent A grade in our survey in the two years since Black Friday. The Winning Poker Network's cashier consists of Americas Cardroom, Black Chip Poker and True Poker. Players on the Winning Poker Network are playing under one of the strongest US facing online gambling companies in the world.
The most popular withdrawal method on Winning Poker is the debit card. Players may request this card for $25 and it arrives in 2-3 weeks. Each withdrawal incurs a $4.95 fee, with a $3 fee for each ATM transaction. There is also a monthly fee and an inactivity fee. Players can expect these transactions to be processed in 2-5 days once the card is in their possession. The maximum weekly withdrawal limit is $2,500 and the max each month is $10,000.
Players are also offered a check by courier that carries a fee of $65. These checks arrive in 1-2 weeks and the first check each month is free. The fastest, but most expensive way to cashout, is by Western Union. These cash transfers are processed in 1-4 days and carry the following fees based on the amount of the request:
• $100 - $299 Fee: $60
• $300 - $499 Fee: $70
• $500 - $749 Fee: $85
• $750 - $999 Fee: $95
• $1,000 - $1,500 Fee: $110
Intertops A- (A-)
Intertops is a Revolution Gaming skin that no longer accepts new US players. Intertops, which is the world’s oldest online sports book, continues to impress the industry with their quick US cashout speeds. The only problem with Intertops is the lack of a free monthly withdrawal.
Players may request a check for up to $3,000 or a bank wire for up to $2,500 for a fee of $50. Each option is processed in 1-3 weeks. Intertops will send a Western Union in 1-2 days. The amounts and fees are as follows:
• $150-$500 Fee: $70
• $501-$1,000 Fee: $85
• $1,001-$2,000 Fee: $180
Merge Gaming C (C-)
Cashout speeds are improving on the Jazette cashier. Players may request a check for up to $2,500. The check should arrive in 9-10 weeks. This speed is consistent and has one advantage. Players that request an additional cashout that does not bring the cumulative value above $2,500 will also see that cashout stacked onto the first one. There is no fee for a check withdrawal on the cashier shared by Carbon Poker, Aced, Sportsbook.com and PlayerOnly, unless a request is made in excess of $2,500 in a month. The fee on multiple monthly cashout requests is $40.
Certain VIP players have been offered Western Union as an option. The fee and speed of these transactions are not yet available.
Lock Poker D (D-)
Reports from certain gaming portals have touted improvements in the Lock Poker payment processing system. These reports are technically correct, but they are still seriously lacking compared to competing US facing sites. The Revolution Gaming flagship is still plagued by cashout delays. US players are reporting 2-3 month delays in Western Union withdrawal requests. Checks are processed in 4-6 months. Neither is impressive, but most reports indicate there is a move in the right direction. Players outside the US are still reporting consistent 45 day cashouts. Lock Poker will be graded low at least until European players are getting paid on time. Slow payments to players outside of the US is typically a sign of liquidity issues.
Juicy Stakes F (D-)
This grade might be the hardest decision I have made in the two years of publishing this report. I have always stated that as long as a US facing online poker room was making an attempt to pay players that I would never go below a D-. Juicy Stakes is paying US players in 7-8 months. One player stated a check that was received in 7.5 months eventually bounced. Others are complaining about requests from 2012 that are still not paid. In my opinion, this is unacceptable. Many US facing online poker rooms offer Western Union cashouts in just days. Juicy Stakes will be graded an F until it finds an alternative to paying US players or significantly improves its check speeds.
Everleaf Gaming was the last US friendly site to receive an F in this survey in April 2012. The network was eventually removed from this report when it became obvious it would not be paying US players.
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