Ultimate Gaming done with Trump Taj Mahal – Claims $1.5m in Unpaid Revenue
Ultimate Gaming has ended their agreement with Trump Taj Mahal, and they are less than happy with their former partner. Ultimate, which worked with Taj Mahal to provide online gaming services to New Jersey residents, alleges that the failing casino stiffed them on $1.5 million in revenue payments.
“We are owed about $1.5 million from Trump Entertainment,” said Marc Falcone, senior vice president of Ultimate. “We in effect haven’t been paid for more than two months. Money that the site generated and that we are owed, we were never given.”
Ultimate goes on to allege that Trump Taj Mahal’s parent company had multiple breaches of contract. Because of how badly things turned out, the company plans on exiting the New Jersey market for good. Ultimate Chairman Tom Breitling said, “We are working closely with the Division of Gaming Enforcement to ensure a smooth transition for our online gaming customers as we wind down our New Jersey operations.”
Aside from alleged mis-dealings on Taj Mahal’s part, Ultimate Gaming didn’t perform too well anyways. Up until now, they’ve made $4.9 million through online gaming, which ranks last out of six operators. To offer a comparison, the market leader, Party Borgata, has fared six times better by making over $30 million.
It also doesn’t help Ultimate Gaming’s case that their land-based casino partner is going out of business. Trump Taj Mahal announced that they’ll likely have to close on November 13th. Assuming they close as planned, this would mark the fifth New Jersey casino to do so this year.
The iGaming market was expected to help save some of the troubled land-based casinos. Unfortunately, that hasn’t materialized as the operation’s only made $87 million so far. Some projections had the New Jersey online gaming operation making over $1 billion within its first year. But as the struggles by Ultimate suggest, this certainly hasn’t happened.