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Home News 38 Studios Sells Assets For $830,000, Rhode Island Still In The Hole

GAMING NEWS

38 Studios Sells Assets For $830,000, Rhode Island Still In The Hole

Posted on Friday, October 26 @ 18:56:16 Eastern by Alex_Osborn


The tragic demise of 38 Studios will almost certainly plague Rhode Island taxpayers for years to come. In an effort to chip away at that some of the debt, earlier this week an auction was held in the tiny New England state, bringing in $650,000. Last week a similar auction was held in Maryland to sell off the assets of Big Huge Games (former division of 38 Studios), bringing in $180,000.

If you do the math, you'll realize that the total made on sales isn't nearly enough to dig Rhode Island out of the hole of debt it is currently in. It's worth noting however, that the most valuable asset, namely the Kingdoms of Amalur IP, has not yet been sold. Apparently it will be done through a separate transaction that will take place some time in the coming months.

Right now, it is estimated that when the company filed for bankruptcy, it owed a whopping $150.7 million. So yeah, RI taxpayers are on the hook for quite a bit.

[Source]
Related Games:   Kingdoms of Amalur: Reckoning, Project Copernicus
Tags:   38 Studios, Big Huge Games


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Comments
  • De-Ting
    De-Ting
    Joined: Nov 2006
    Posted: Oct 26th, 2012 at 7:15 pm
    My sincerest prayers to the 6 people that live in Rhode Island.
    0 5
  • Ivory_Soul
    Ivory_Soul
    Joined: Nov 2005
    Posted: Oct 26th, 2012 at 7:23 pm
    This is probably due to the poor sales of Kingdoms of Amalur. The game was mediocre at best and was way overhyped as the next game to be like The Elder Scrolls. Didn't even come close.
    2 0
  • Chunibrow
    Chunibrow
    Joined: Mar 2010
    Posted: Oct 26th, 2012 at 8:54 pm
    KoA was actually pretty good, the problem was that it was compared to Skyrim so heavily. Had it only come out before Skyrim i I think initial reaction would have been much more favourable.
    0 0
  • Ivory_Soul
    Ivory_Soul
    Joined: Nov 2005
    Posted: Oct 26th, 2012 at 9:06 pm
    KoA was repetitive and boring. The only thing good about it was the combat. There were too many boring quests, and the lore was forced and not memorable at all. I played about 8 hours of it and uninstalled it. There wasn't anything amazing about KoA, over hyped and a waste of time in my mind.
    0 0
  • Chunibrow
    Chunibrow
    Joined: Mar 2010
    Posted: Oct 27th, 2012 at 1:37 am
    Too bad for you, I got nearly 80 hours out if it
    0 0
  • drathbone
    drathbone
    Joined: May 2011
    Posted: Oct 26th, 2012 at 10:47 pm
    To each their own. I liked it and wouldn't complain seeing more if they fixed the difficulty.
    0 1
  • reiandcoke
    reiandcoke
    Joined: Jul 2011
    Posted: Oct 27th, 2012 at 10:52 pm
    Actually I believe most of the debt is from money they sunk into making an MMO (project copernicus) that was nowhere close to being done when the company was shuttered but had a stupid amount of money spent on it
    0 0
  • Ananymous
    Ananymous
    Joined: Apr 2011
    Posted: Oct 27th, 2012 at 2:35 pm
    I want to play through KoA but no one seems to have it cheaper then $39.99 New near me
    0 0
  • ShadeTail
    ShadeTail
    Joined: Nov 2006
    Posted: Oct 27th, 2012 at 8:08 pm
    Rhode Island has a GDP of over $30 billion. $150 million isn't chump change, but it's a tiny drop in the bucket for an economy that sized. Rhode Island will be fine regardless of how this goes.
    0 1
  • cheesegod99
    cheesegod99
    Joined: Jun 2007
    Posted: Oct 28th, 2012 at 9:12 am
    Every citizen of RI should get one of the leftover copies of KOA!
    0 1
  • ShadeTail
    ShadeTail
    Joined: Nov 2006
    Posted: Oct 30th, 2012 at 7:43 am
    Now *this* is an idea I can get behind!
    0 0

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