When the entire staff at 38 Studios was laid off, most all hope of a Kingdoms of Amalur: Reckoning sequel evaporated.
The problem is that even if Big Huge Games could be resurrected with another company, 38 Studios still owns the IP, tech and code, which would be required for a follow-up effort. And in turn, all of that will soon be owned by the state of Rhode Island due to those financial difficulties.
To make you feel even more depressed, it appears that Reckoning 2 was already in the works, as founder Curt Schilling once hinted at. According to what one inside source told Joystiq , the new title was in "pre-production" and they were in "advanced talks with a publisher" before everything went south. The source in question also says the project featured "higher graphics quality across the board, no loading screens between zones, expanded and improved combat animations, fewer branching quests and greater effect on the world by players."
Sounds great. Too bad we'll probably never see it. But hey, Reckoning is still a pretty massive game; you can have fun with it for a while , so take solace in that.
Related Game(s): Kingdoms of Amalur: Reckoning