38 Studios appear to be having some problems paying back hefty loans owed to the state of Rhode Island. Blue's News highlight a report from the Boston Herald saying that the studio missed a $1.1m payment at the start of the month and are now requesting more money.
Studio founder and former baseball star Curt Schilling held a private meeting with state officials earlier today to discuss the state of the company. Afterwards, officials responded by deciding to not decide anything for a short while. With taxpayer money on the line, the studio could face hard times ahead.
The board are planning to consult industry advisers to get a better picture of 38 Studio's current status and take action later. “We're making a good decision by not making a decision,” said board chairman/governor Lincoln Chafee.
38 Studios released their first game, Kingdoms of Amalur: Reckoning earlier this year. It didn't do badly, but it's taken a long, long time to make. The studio's aspirations to build an MMO could explain the problematic financial situation they seem to find themselves in. They're famously expensive to make and maintain.
38 Studios execs haven't commented on the failed loan payment but a beleaguered Curt Schilling said this to reporters after the hearing. “My priority right now is to get back to my company. My priority right now is to get back to my teammates.” Hopefully it's just a blip and the studio can turn their fortunes around.