38 Studios in Financial Trouble

<p>The studio behind <em>Kingdoms of Amalur&colon; Reckoning&comma; <&sol;em>38 Studios&comma; seem to be in some sort of financial trouble according to WPRI&period;<&sol;p>&NewLine;<p>The reports state that the Rhode Island governor Lincoln Chafee met with officials from 38 Studios on Monday to discuss the company’s finances&period; 38 Studios received a &dollar;75 million taxpayer-backed load from the state in order to move the studio from Massachusetts to Rhode Island&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;We’re concerned and just doing everything possible to ensure that 38 Studios stays part of the Rhode Island community&comma;” Governor Lincoln Chafee told WPRI&period;com and reporters from some of the <a href&equals;"https&colon;&sol;&sol;www&period;newsbtc&period;com&sol;news&sol;company&sol;offshore-sportsbooks-and-legal-betting-sites&sol;">best offshore sportsbooks<&sol;a> Monday night&period; &OpenCurlyDoubleQuote;We’re working on different issues with them&period;” When asked whether he thinks 38 Studios can be stabilized&comma; Chafee told WPRI &OpenCurlyDoubleQuote;We’re working on it&period;”<&sol;p>&NewLine;<p>Governor Chaffee did not originally support the idea of loaning the studio tax money&period; However the Rhode Island Economic Development Corporation loaned the studio the money before Governor Chaffee took office&period; The studio has received &dollar;49&period;8 million of the &dollar;75 million loan&period; The company pledged to employ 450 people in the area&period; As of March 15 there were 379 full-time employees in two offices&comma; 34 full-time contractors&comma; eight interns and 18 job openings&period;<&sol;p>&NewLine;<p>The company currently has MMO <em>Copernicus<&sol;em> in development&period; No announcements have been made as to the future of the MMO&period;<&sol;p>&NewLine;<p>&lpar;Via <a href&equals;"http&colon;&sol;&sol;www&period;gamepolitics&period;com&sol;2012&sol;05&sol;15&sol;rhode-island-governor-intervenes-38-studios-struggles-remain-solvent">GamePolitics&period;com<&sol;a>&rpar;<&sol;p>&NewLine;