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Submitted by legendof117 792d ago | news

38 Studios auction in Rhode Island earned around $650,000

The public auction held Tuesday at 38 Studios' former headquarters in Providence, Rhode Island, grossed approximately $650,000. The official number comes from the Rhode Island Economic Development Corporation, which held an auction last week at the former site of 38 Studios' Big Huge Games division in Maryland. That auction brought in $180,000. (38 Studios, PC, PS3, Xbox 360)

brandynevils  +   792d ago
Ugh '...and the remainder of the bill following the IP sale will be swallowed by state tax-payers.'
Soldierone  +   792d ago
To make this clear, a indie game studio somehow managed to spend 150 MILLION dollars and did nothing with it.....

The state now has to pay 150 million dollars, and has yet to make 1 million back....So anyone hoping their state would create business with video games can kiss the dream goodbye, thanks a lot Schilling. i think he should be forced to pay some of the bill.
konnerbllb  +   791d ago
He put most of his money into the company (millions) and lost it all.
chasegarcia  +   792d ago
I am from RI.
In my opinion he should have started with iPhone games.

The state took a gamble and gave Curt an awesome loan. It was a terrible decision, but looked great at the time because the unemployed was/is bad here. He said they were going to hire 500 people. Little did we know it was like 500 people from other states. He also spend the money like a retard. He bought unnecessary crap. Like another studio. At-least the state pulled out before he spend all the money.

I still believe gaming will return to RI.We are surrounded by awesome schools with smart kids who love games. One day somebody will start a game studio again.

@Soldierone

RI is investigating. A lawsuit will cost a lot more tax money and might not be worth it.
#3 (Edited 792d ago ) | Agree(3) | Disagree(1) | Report | Reply
legendof117  +   792d ago
Hopefully they will find a scam within all this! :) Brings back some hope, you know?
fOrlOnhOpe57  +   792d ago
A disaster all round. Financially for the state, the company, the employees who lost their livelihoods and the gamers who enjoyed what was an outstanding first - and last game from 38 studios.
I really hope the IP is picked up by soneone who can take it forward. as it promised so much.
legendof117  +   792d ago
Hopefully something happens like with Sleeping Dogs.
Eldyraen  +   792d ago
I'm enjoying Sleeping Dogs, a great game that was essentially cast off by the original publisher and picked up by another. Would love to see KoA see the same treatment as it had decent sells and was well received. Just a shame about the studio's failing and that the state has to take such a huge loss.
Eldyraen  +   792d ago
As much as I like the IP, I doubt it will sell for all that much either, all things considered (as in the loan's total amount). The game still managed to sell over 1.25 million copies (not counting digital) though so for a new IP, it didn't do 'bad' but still far less than I (and definitely they) hoped for considering it was a well put together game.

Hopefully a decent company will pick up the IP though as it'll probably go for 'cheap' (again compared to $150m loss for the state). Its the best bet for a sequel anyways as there is plenty of room for another good Action RPG franchise. Personally I'd like either a company with strong RPG roots to pick it up or even MS/Sony as they have the finances to do so and other than Fable (which is now worse than KoA imo) no console has an exclusive for the genre so it would be a boon for them. More than likely it'll end up in the hands of EA or Activision though which 'could' be good as they also have the resources to turn out a strong sequel but I just don't have as much trust in them compared to an established RPG developer (plus I don't want to see it milked/rushed which is more likely to happen if a big publisher picked it up).

Sucks that the state has to take such a huge loss as doubt the IP will sell for but a fraction of the loan's debt. 1.25m copies at $60 is $75m and no way anyone should be willing to spend even half that on a potential 'fanbase' alone. Would probably be lucky to sell for $10-20m and that's still being generous as that's just the IP--they'd have to shell out close to that again to actually make a new game with it to make a profit (or change it radically).
MasterD919  +   792d ago
It's a shame that Schilling had any say in anything. Definitely not the man to run a game studio, let alone take millions of dollars from tax-payers.
fOrlOnhOpe57  +   791d ago
But wouldn't it be true to say without CS there would have been NO game? And hasn't it cost him his own personal fortune of $50 million?

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