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The death of 38 Studios

A few days ago, 38 Studios, the company that made Kingdom of Amalur: Reckoning, all but went under after laying off their entire full time staff of nearly 400 employees after failing to make the FIRST payment on the loans they borrowed from Rhode Island state. It was predictable, as the owners borrowed a massive amount of money to fund a very speculative industry, and if they expected to be able to pay back their loan and turn a profit, they had to guarantee that the game was going to be a sure fire hit. It was a good game, but it sold very poorly.

So... yeah. If the company officially closes down, Rhode Island state will have the intellectual property right of Kingdom of Amalur: Reckoning, and the taxpayers will be on the hook for over $100 million.
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Added: 6 years, 10 months ago
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