Rhode Island keeping 38 Studios on life support
38 Studios, the devs behind Kingdoms of Amalur have apparently borrowed a lot of money from the state of Rhode Island. Money that they are having quite a hard time paying back. In 2010 38 Studios was given a $75 million dollar loan from the state of Rhode Island in hopes to bolster economy by providing jobs, and help the development of 38 Studios new MMO Copernicus.
According to 38 Studios, KoA was like a proof of concept for their new MMO, which makes sense, since it feels like you’re playing as a lone Fed Ex man on an offline MMO, but KoA turned out to be one very expensive proof of concept that ended with poor revenue as well. All in all, if 38 Studios goes under without paying the loan that mean that after interest the tax payers of Rhode Island will be left shouldering the debt of over $100 million.
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g1 DISCUSSIONS
Alpha Unit
They're in the shit hole now, dawg.
King Meatball I
As a resident of the state, the whole issue involves the promise of the 450 jobs the studio was supposed to do but hasn't come anywhere close to hiring. The majority of the company's employees are in the Massachusetts branch or were existing employees moved to the RI branch.
Tpayne80
WOW. I feel bad for anyone who lives in Rhode Island
Gaarathedancingpanda
Sam, you aren't even on the news team, and this is my favorite story this month. Nice work.