They said they wanted to do a sequel to Kingdoms of Amalur: Reckoning , but they have to stay afloat first.
The recent unfortunate news is that developer 38 Studios is struggling, and the local government is intervening in an attempt to protect a $75 million loan. But there's a "tight time-frame" for resolution and according to a report in the Providence Journal , Rhode Island governor Lincoln Chaffee has been meeting with 38 Studios reps in an effort to protect the aforementioned loan. As Chafee told WPRI:
"We're concerned and just doing everything possible to ensure that 38 Studios stays part of the Rhode Island community. We're working on different issues with them."
Chafee added that "it's always been a volatile industry to be in," and things can get risky. As of March 15, 38 Studios had 379 full-time employees spread across two offices; at that point, the company had received $49.8 million of the loan, all of which was going toward their currently unannounced MMO "Copernicus." But doubts remain and now, 38 Studios has backed out of E3.
The company was founded back in 2006 by former baseball player Curt Schilling. They brought in plenty of talent right off the bat – comic artist Todd McFarlane and author R.A. Salvatore to name a couple – and Reckoning did pretty well on the sales charts. Yet, they're in trouble. Sad.