No one can say for certain how much New Jersey’s online gaming market will actually be worth.
State regulators, lawmakers, casino industry insiders and Wall Street analysts have estimated Internet wagers could generate as much as $1.2 billion in gaming revenues in the first year — roughly 40 percent of what Atlantic City’s 12 casinos collected in 2012.
That’s one reason Internet gaming providers have hopes for a seat at the table.
The state has outlined an aggressive schedule. Regulations have been drafted and the Casino Control Commission wants to see cards in the air — or on computer screens — by Thanksgiving.
New Jersey has restricted operation of online gaming to Atlantic City’s casinos, which have until June 30 to line up their website technology partners. The state set a July 29 deadline for completed applications to the Division of Gaming Enforcement.
Anyone missing the deadlines could be sidelined until next year.
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The first-ever legal pay-to-play online poker website in the United States is expected to launch this morning when Station Casinos-owned Ultimate Poker flips the switch on a new era in Nevada gaming.
The site, UltimatePoker.com, can be accessed only on computers or mobile devices located in Nevada.
State gaming authorities signed off of the company’s technology last week and allowed Ultimate Poker to move forward in what is considered a test period.
Ultimate Poker was licensed for interactive gaming in October.
The site is expected to go live at 9 a.m. with limit and no-limit Texas hold ’em poker through single-table cash games, sit-and-go events, and multi-table tournaments.
The poker games will have buy-ins from a few cents to $100.
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Fertitta Interactive LLC on Tuesday announced it will launch its real-money and social gaming company, Ultimate Gaming, an online gaming business it has been developing since its October acquisition of CyberArts Licensing LLC.
“We view it as a global opportunity,” Tom Breitling, chairman of Fertitta Interactive, said during an hour-long presentation . “We believe the timing is right to enter the world of online gaming, so we are doing so with Ultimate Gaming.”
Breitling said its free-play poker game, Ultimate Poker, will be released Friday on Facebook, with a promotional campaign to begin July 7 during Ultimate Fighting Championship 148, a pay-per-view event.
He said Ultimate Gaming is UFC’s official online gaming sponsor.
The Las Vegas-based company will launch real money poker in Nevada as soon state gaming regulators approve pending manufacturer, service provider and operator licenses, Breitling said. That should be by the end of the year, he said.
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