Pretty much. This Governor Lincoln Chafee fellow has said he's done letting the state give them "easy money", confirms layoffs, doesn't confirm if the current staff are being paid or not and then says the MMO will be out June 2013.
Basically, they owe $49 million to the state, they paid off $1.125mil this month and the next payment is due November 1st of $2.6 million. Then a wonderfully crippling $12.6 million in 2013.
The Rhode Island administration says they'll do everything it can to stop the company failing short of giving it more cash. But since they're ambiguous about staff being paid or not, the cynical bastard in me assumes they're not.
Turbine and Avalanche studios are holding recruitment events in the area to try and get some of their staff with the former having 50 openings on their current MMO project.
If their MMO comes out June 2013, I'm assuming it will be out regardless of what state it's in to try and rake in some of the cash to keep them afloat
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