Simulation games have become widespread in business courses, yet the understanding of their learning effects remains limited. The effectiveness of using simulation in marketing classes is not uniform, and not all students welcome it to the same extent. Drawing on a survey among 173 students engaged in a simulation game as part of a course in a 2-year business graduate program, we employ "expectation-confirmation theory" and the "unified theory of acceptance and use of technology" to develop a model to investigate the relation between Learner Satisfaction and Performance Expectancy and Effort Expectancy with a marketing simulation game. In addition, we examine the influence of Age, Gender, Course Type, Course Stage, and Recalled Performance. We report that Performance Expectancy and Effort Expectancy drive Learner Satisfaction. We also find Recalled Performance of students to be related to Learner Satisfaction. We discuss the implications of our results for the use of marketing simulation games in business programs in relation to experiential learning theory linking Learner Satisfaction to learning outcomes. In light of our results, instructors can affect the learning experience from simulation games by acting on Performance Expectancy and Effort Expectancy as antecedents of Learner Satisfaction.