They are trying to hang around until more markets get legalized, but it's just not going well.
Most original employees (including high-level ones) have quit or been fired. This includes Terrence Chan, who describes himself on Twitter as "funemployed" now.
Reportedly most of this has to do with Ultimate Gaming CEO Tom Breitling, who is said to be difficult to work with, and not knowledgeable enough about the online poker market to be in the position he's in.
They also committed a big blunder initially by purchasing CyberArts for $25 million (in 2011) -- a software company which then designed their fail proprietary software.
Their NJ site is gone, and the NV site has been a failure. In late October they tried to drum up interest by charging no rake at 2-5 NL, but got only a tepid response.
Now they are running a $10,000 bad beat jackpot promo at 0.10/0.25 NL and higher, for quad tens or better beaten.
Again, no improvement.
I already took the last of my money off that failsite.
At 5:15pm, they have zero LHE games running, and 67 players in NLHE. However, there is only a single NLHE table running above $0.25/$0.50. There are also 14 players at microstakes Omaha. Basically it's become a LOL microstakes site, and still rarely has 100 active players at once.
Here are some LOL videos of CEO Tom Breitling discussing "lessons learned" in May, 2014:
Here he is blaming regulation for his site's failure:
Here he is blaming the illegal online sites (like Bovada and Merge) for his site's failure:
Here he is saying that they will grow because customers are still becoming aware of them (LOL):
Oh, and here he is whining that the market is smaller than expected, again an excuse for UP's failure:
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