In 2010, Curt Schilling was able to get $75 million in loan guarantees from the state of Rhode Island for his video game company 38 Studios.
The idea was that Schilling’s company, which would move from Maynard, Mass. to Providence following the transaction, would spark a new video game industry in Providence and add hundreds of jobs in Rhode Island.
Its first video game sold about 1.2 million copies, according to reports, but its follow up game is a year away in production.
Though the saga continues, but it appears the former Boston Red Sox pitcher’s company will soon shut down for good.
Should Rhode Island’s Economic Development Corporation board have risked the money given the circumstances at the time, or was this just too big of a gamble?