38 Studios’ Check Clears; Amalur’s Future Looks Brighter (VIDEO)
Last we heard, the future of Kingdoms of Amalur developer 38 Studios was looking grim due to financial problems, as the firm was unable to repay a $1.125M debt to the state of Rhode Island, laid off temporary workers, and missed payroll.
Fortunately, according to Rhode Island governor Lincoln Chafee, the studios’ check has now cleared.
Governor Chafee said:
“It’s time for them to go out and get private capital funding. That’s the deal. It’s a generous deal, but stick to it.
“I want to make sure we’re doing everything possible to make sure 38 doesn’t fail. We’re in deep. There’s not going to be any money from the state. They’re not coming here for easy money.”
38 Studios isn’t out of the water yet, though. The next loan payment of $2.6 million is due to the state on November 1. The firm will them owe $12.6 million in full annual debt service in 2013.
2013 will also mark the release of the Project Copernicus MMO — assuming the studio doesn’t fold. Check out this fly-through of some of the world:
After watching that, I do hope 38 Studios pulls through.