Giant Bomb News

113 Comments

38 Studios Pays its $1.125 Million Debt, Will Receive No Additional Funds from State

Oh, and the governor of Rhode Island just tossed out a release date for "Copernicus."

At a press conference held today, Rhode Island governor Lincoln Chafee announced that 38 Studios had successfully paid the $1.125 million payment it had previously defaulted on when it missed its original May 1st deadline.

38 had previously attempted to make the payment yesterday, but the check was refused by the Rhode Island Economic Development Corporation when it was made clear that the studio had insufficient funds to cover the payment.

Chafee said that the total $49 million thus far loaned to the studio has reportedly been spent, though an auditor will be brought in to ensure that is the case. Chafee estimated that 38 is currently spending around $4 million a month in total expenses.

38's next payment due is a $2.6 million payment due on November 1st, which the governor believes will be covered. $12.6 million in full annual debt service will be due in 2013. "That's on their dime," said Chafee.

Chafee says that his number one priority is to ensure that 38 stays afloat, but that the state government won't be providing any additional funds to the company beyond the current agreement. "It's time for them to go out and get private capital funding," Chafee said. "That's the deal. It's a generous deal, but stick to it."

In a rather odd aside, Chafee also blurted out a release date for "Project Copernicus," the MMO the developer has been working on since 2006. He believes that the game is due June 2013.

Alex Navarro on Google+
113 Comments
  • 113 results
  • 1
  • 2
  • 3
Posted by Obinice

Good luck to the humans involved.

But no more MMOs.

No more.

Posted by Godlyawesomeguy

Yeah, I look forward to seeing this game in 2013. Now, imagine me rolling my eyes after stating something so ridiculous such as that.

Posted by John1912

Lol, game announcement from the governor.

Posted by MrKlorox

I hope somebody called the governor on his shit. I don't give a fuck who he is. It's not his position to leak information. Anybody else would have been fired.

Posted by paskaroni

Well, if things go tits up in Rhode Island, 38 Studios could make the leap over to Ontario. Hell, they could hit the provincial AND the federal governments for financial backing here...

Posted by chilipeppersman

@Obinice: seriously. we need to move on to making better games, and mmo's are anything but.

Posted by Bunny_Fire

i do hope to see the people at stolidity 38 come though this ok ... best of luck to them

Posted by Warchief

so they paid the state by not paying the employees...

Posted by Johnny5

I hope companies start realising that not EVERY company needs an MMO. Seriously sick of a new MMO coming out every month and then being forgotten after 2 weeks. Considering that a lot of the time they're great companies that can make awesome games.

Posted by ShenaniganZ

Someone needs to read Ready Player One and make it happen.....im looking at you Zuckerberg!

Posted by DriftSPace

@vinsanityv22:

Some of the area designs are really nice, but the camera is so restrictive that it's hard to really appreciate those designs. If you get this game: stick to the main plot and faction quests, as the side quests are mostly a giant waste of time with little meaningful reward. You can definitely sink a lot of hours (60-100+) into this game, but I felt like it was mostly a shallow experience by the end. It was super easy on "hard" mode, and because I had tried to find some value in the side quests via completely exploring every area my character was basically unstoppable for the latter 75% of the game due to non-scaling difficulty. The outcome of the game plot doesn't really change depending on your decisions, and because you can completely re-spec your character at any moment there's basically no reason to play it more than once. It was a pretty lackluster experience overall for me, but not the worst game I have ever played.

Posted by CosmicQueso

@MrKlorox said:

I hope somebody called the governor on his shit. I don't give a fuck who he is. It's not his position to leak information. Anybody else would have been fired.

Not sure if serious. You're saying that the governor should be fired for stating the release date of a video game? You are joking, aren't you?

Posted by MrKlorox
@CosmicQueso said:

@MrKlorox said:

I hope somebody called the governor on his shit. I don't give a fuck who he is. It's not his position to leak information. Anybody else would have been fired.

Not sure if serious. You're saying that the governor should be fired for stating the release date of a video game? You are joking, aren't you?

No, I'm saying if he committed an offense that usually gets people fired, I at least hope he got a tongue lashing.