Trump Taj Mahal sinks Ultimate Gaming
Trump Taj Mahal going bankrupt has caused it's land based partner, Ultimate Gaming, to quit the New Jersey gambling market. An untimely end for the first legal company to provide betting on casinos online along with poker, in the U.S market.
Citing “multiple breaches” after Trump Taj Mahal filed for bankruptcy and Chapter 11 protection. Ultimate Gaming part of the Station Casinos LLC, based in Las Vegas, ended its online gambling agreement with the casino. UG said it would though continue to provide online poker in the state of Nevada.
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How did this come about and what caused the demise of the once formidable operation of Trump Taj Mahal? After all it was only last year that New Jersey legalized Internet gambling in an effort to increase revenue and new betting opportunities for casino owners.
The tie up meant that online casinos like UG would base their computer servers within an Atlantic City casino.
However the expected increase in revenue from online casinos never materialised and as a result five of the city’s 12 casinos have closed or declared their closure by the end of this year. Increased competition in surrounding states also played it's part in loss of revenue for Atlantic City.
Trump Entertainment Resorts Incorporation founded by Donald Trump and established as the casino operator of Trump Taj Mahal officially filed for bankruptcy court protection on September 9th 2014. Closure is expected as soon as November.