Comments on: 38 Studios’ finances under scrutiny; RI taxpayers’ $75M at risk

By: EVE Evolved: Lessons from 38 Studios

EVE Evolved: Lessons from 38 Studios — Mon, 28 May 2012 03:54:30 +0000

[...] and rebrand Big Huge Games’ polished singleplayer RPG. Fantasy writer R.A. Salvatore was reportedly paid a whopping $1.46 million for his work on Kingdoms of Amalur, plus royalties from sales. Even though the game reportedly sold over 1.2 million units, it’s [...]

By: 38 Studios Copernicus, Mercury and other stuff - Page 971 - Fires of Heaven Guild Message Board

Sun, 27 May 2012 16:52:56 +0000

[...] [...]

By: 38 Studios – The Legend, The Myth, The End « The Ancient Gaming Noob

38 Studios – The Legend, The Myth, The End « The Ancient Gaming Noob — Fri, 25 May 2012 23:34:29 +0000

[...] A. Salvatore… who got paid, and would continue to get paid even more if the IP gets sold… says Copernicus was awesome, but can’t actually back [...]

By: The Perils of Celebrity Game Writing « Loading Screen

The Perils of Celebrity Game Writing « Loading Screen — Fri, 25 May 2012 21:25:06 +0000

[...] input into what happened with 38 Studios. I’m no insider, just a pretender. But I do think this article has something that I can comment on, as a gamer and a [...]

By: How 38 Studios Spends $4m a Month On Operation Costs (Probably) | Vicarious Existence

Mon, 21 May 2012 15:34:28 +0000

[...] possible professions and salaries (and even possible payments to people like R.A. Salvatore that run to the millions), with game industry average salary information ranging from about US$49 009 per year (for the [...]

By: Finishing the Week: Issue 39

Finishing the Week: Issue 39 — Sun, 20 May 2012 19:02:19 +0000

[...] Game developer 38 Studios in trouble, while the state of Rhode Island is just happy to be mentioned … [...]

By: Jim Donahue

Jim Donahue — Sun, 20 May 2012 16:38:17 +0000

Have they actually burned through $64 million?

http://bit.ly/A2jW5R

By: Sadly predicting death for 38 Studios « To Game For Life

Sadly predicting death for 38 Studios « To Game For Life — Sat, 19 May 2012 03:43:53 +0000

[...] here’s something I know about – audit reports. Pricewaterhouse gave 38 studios a ”going concern” finding [...]

By: 38 Studios financial woes persist, can't pay staff

38 Studios financial woes persist, can't pay staff — Sat, 19 May 2012 02:35:53 +0000

[...] among the first ever publicly funded game development companies 38 Studios has received $49.8 million of the $75 million in loan proceeds, according to bond documents obtained by WPRI.com. Officials [...]

By: Curt Schilling on Facebook: ‘We will find a way … to endure’ | WPRI.com Blogs

Fri, 18 May 2012 15:45:11 +0000

[...] Schilling and 38 Studios have not responded to requests for comment, but what Vahey may be hearing about is the $4 million line of credit Schilling extended to 38 Studios back in July 2010, which a bond document WPRI.com obtained shows was repaid using the loan money. See this story for details. [...]

By: Schilling’s Superfecta « masscommons

Schilling’s Superfecta « masscommons — Fri, 18 May 2012 15:32:39 +0000

[...] a tip of the hat to Ted Nesi and Steve Nielsen of Providence’s WPRI, who dug up this fun fact: “In July 2010, the same month the EDC approved the loan guarantee, 38 Studios established [...]

By: Episode 12 – BloodEagle gets GHETTO! « Link Dead Gaming

Episode 12 – BloodEagle gets GHETTO! « Link Dead Gaming — Fri, 18 May 2012 13:25:43 +0000

[...] Game Dev 38 Studios is hot water [40:20] [source] [...]

By: Tax Roundup, 5/17/2012: Athletic welfare queen edition « Roth & Company, P.C

Thu, 17 May 2012 13:16:23 +0000

[...] corporate welfare queens wear bloody socks? Rhode Island has invested $75 million in a video game company started by Curt Schilling. It’s starting to get ugly. (Hat tip: alert reader [...]

By: james

james — Thu, 17 May 2012 05:14:02 +0000

I’m fascinated together with your article. This text is extremely facilitating an honest quality. It’s terribly informative and very good. I favor this text. It’s definitely terribly helpful on behalf of me to speculate. Thank u greatly for providing us such smart data through your article.

By: 38 Studios In Trouble

38 Studios In Trouble — Thu, 17 May 2012 04:08:33 +0000

[...] from the Providence Journal and WRIP say that state governor Lincoln Chafee met with the heads of 38 studios on Monday night to discuss [...]

By: Perks Daily Deals | FindSuperDeal.com - Super deals and coupons!

Perks Daily Deals | FindSuperDeal.com - Super deals and coupons! — Wed, 16 May 2012 21:47:07 +0000

[...] doing everything possible to ensure that 38 Studios stays part of the Rhode Island community,” Chafee told Providence TV station WPRI earlier this week. “We’re working on different issues with them.” Asked whether he thinks 38 [...]

By: Why’d the EDC demand $1.125M from 38 Studios now, anyway? | WPRI.com Blogs

Wed, 16 May 2012 16:05:37 +0000

[...] it ever expected 38 Studios to have $1.125 million lying around before the game it’s funding has even been released. Startups are notoriously short of cash, almost by definition - they’re spending money but [...]

By: 38 Studios facing financial trouble

38 Studios facing financial trouble — Wed, 16 May 2012 14:34:56 +0000

[...] 38 Studios, developer of Kingdoms of Amalur: Reckoning, is in financial trouble, according to WRPI. [...]

By: Schilling’s Risky R.I. Curve Ball | Washington Free Beacon

Schilling’s Risky R.I. Curve Ball | Washington Free Beacon — Wed, 16 May 2012 13:38:03 +0000

[...] Reuters that he had invested “$30 million to $35 million” in 38 Studios. A disclosure filing obtained by WPRI shows that Schilling advanced the company $4 million of his own money, and has already been paid [...]

By: Kingdoms of Amalur developer on edge of insolvency « GamingBolt.com: Video Game News, Reviews, Previews and Blog

Wed, 16 May 2012 07:07:52 +0000

[...] “It’s always been a volatile industry to be in. That’s just the risk you take when you get into the business”, said Governor of Rhode Island Lincoln Chaffee to the Providence Journal (via GamesIndustry). [...]

By: Blue Mass Group | Curt Schilling’s video game company: just as well we let them go

Wed, 16 May 2012 03:58:57 +0000

[...] 2012, and 38 Studios is in trouble. They’ve only employed 288 Rhode Islanders so far, and the company recently had to pull out [...]

By: Curt Schilling’s 38 Studios Is Now Falling Faster Than His Sinker Ever Did – Obsessed With Sports

Wed, 16 May 2012 02:22:37 +0000

[...] from WPRI. I have to assume Schilling is a moderately smart man at the very least. I start to wonder if Curt [...]

By: Brendan Smith

Brendan Smith — Tue, 15 May 2012 23:25:47 +0000

Curt Schilling would’ve been the world’s dumbest business man not to take this deal. MMO developers always operate in the red while developing the game. The average top quality video game takes 1.5 to 3 years to develop and about 20 million. The average triple A MMO takes 4 to 6 years and 75 – 100 million to develop.

The fault here lies solely with the State of Rhode Island’s government. They did not do their due diligence in setting up this deal. They either didn’t research, or completely ignored, the risky nature of the video game industry, especially the MMO genre. For every success like World of Warcraft, there are twenty Star Trek Onlines.

Also, putting a guarantee on 450 new jobs was laughable. The transient nature of the gaming industry’s employment really wouldn’t cater to that. At certain points in development they will need more story writers, later on the writing team will be paired down and the programming team will be built up. Later, testers will brought on, and as the game nears completion, the programming team will be paired down to essential personnel.

This loan would’ve been jumped at by any gaming company CEO. People are only going off because it’s the cool thing to bash Curt Schilling. Be angry at the real jerks here and vote them out of office.

By: Ed

Ed — Tue, 15 May 2012 22:28:50 +0000

Alex I maybe wrong about the Maryland operation but the rest of what I stated is very accurate. This what is needed now! If you people want to grow jobs lower taxes for all businesses instead of select businesses. Next elminate zoning to build quality housing stock and elminate the triple deckers. Last people who start businesses want an educated workforce, Rhode Island public schools sucks and do a job of educating the kids, except to work in some dump on Federal Hill waiting tables.

By: El gobierno de Rhode Island está apoyando la solvencia de 38 Studios | Atomix

Tue, 15 May 2012 20:30:22 +0000

[...] Providence Journal Vía: Joystiq Tweet [...]

By: Curt Schilling’s 38 Studios, creators of Kingdoms of Amalur, in danger as Rhode Island gov. steps in

Tue, 15 May 2012 19:47:17 +0000

[...] 38 Studios’ future seems to be in doubt. Gov. Chaffee said in an interview on television station WPRI that the government is doing “everything possible to ensure that 38 Studios stays part of the [...]

By: oreo

oreo — Tue, 15 May 2012 19:40:41 +0000

Take the money from the retirement fund to pay off so tax payers are whole. Then don’t pay it back. Just “reform” the state workers pension again. Ms. Raimondo is probably already on this. Isn’t this how it’s done in RI?

By: 38 Studios owed EDC money on May 1; did Schilling firm pay? | WPRI.com Blogs

Tue, 15 May 2012 19:02:05 +0000

[...] 38 Studios’ finances under scrutiny; RI taxpayers’ $75M at risk (May 14) [...]

By: Curt Schilling’s 38 Studios struggling to keep solvent

Curt Schilling’s 38 Studios struggling to keep solvent — Tue, 15 May 2012 18:01:42 +0000

[...] company a $75 million loan with the hope of bringing 450 employees and tax revenue to the state. WPRI reports that the studio has received $50 million and currently has 288 [...]

By: Robitaille: 38 Studios lesson is don’t pick winners and losers | WPRI.com Blogs

Tue, 15 May 2012 17:04:46 +0000

[...] 38 Studios’ finances under scrutiny; RI taxpayers’ $75M at risk (May 14) [...]