38 Studios, the developer of Kingdoms of Amalur: Reckoning were in some serious financial trouble and a previous payment made by the company didn’t quite go so well with many of the studio’s employees going without pay. However, they were just able to repay $1.125 million owed to the state of Rhode Island and have managed to pull themselves out of hot water, it seems. Unfortunately for 38 Studios, there’s still a hefty $75 million to be paid back so they’re not completely bone dry just yet. Currently, the developer is working on a new MMO mysteriously entitled Project Copernicus. Lincoln Chafee, governor for Rhode Island stated that the company has managed to pay back much of what was owed as well as let slip the release date for Copernicus, June of 2013.
When asked for his thoughts on the situation involving 38 Studios, Chafee responded, “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 will begin repaying on their loan of $75 million by 2013 through money (to be) raised by private investors although those investors have yet to be found, Chafee suggested.