Ultimate Gaming posts loss for Station
Nevada licensed operator posts $1.6m loss in first reporting period for 50.1% owner Station Casinos
Nevada’s first online gaming operator Ultimate Gaming made a US$3.2m loss during the three months ending June 30, according to the latest results from its 50% owner Station Casinos.
Station, which owns a 50.1% stake in Ultimate Gaming’s parent company Fertitta Interactive reported the online operator contributed a $1.6m loss to its results during the period.
Ultimate Gaming launched Ultimate Poker for real-money play in Nevada on 30 April for an initial field trial period, which ended on 25 July.
Station said the Ultimate Gaming team was now focused on upgrades and enhancements to the offering and preparing for a New Jersey launch in November.
Ultimate Gaming signed a deal with Trump Taj Mahal to be its online gaming partner in New Jersey, where the first sites are scheduled to go live in November this year.
“Ultimate Gaming’s entrance into the New Jersey market is our next step in expanding our presence in the online gaming industry,” Marc Falcone, Station Casinos CFO, said.
“Ultimate Gaming has submitted all of the required applications, and we believe we are well prepared to launch in the market upon receiving New Jersey regulatory approval,” he added.
Station Casinos net revenues for the quarter increased 1.4% year-on-year to $316.6m and adjusted EBITDAM excluding Fertitta Interactive was $97.7m.
Including the results of Fertitta Interactive, Adjusted EBITDAM was $96.1 million.