[UPDATED] Crytek in crisis, German developer may face bankruptcy

  • Posted June 23rd, 2014 at 04:50 EDT by PSU Staff

Crytek has denied the report to Eurogamer.

Here's the statement

"Regardless of what some media are reporting, mostly based on a recent article published by GameStar, the information in those reports and in the GameStar article itself are rumors which Crytek deny. We continue to focus on the development and publishing of our upcoming titles Homefront: The Revolution, Hunt: Horrors of the Gilded Age, Arena of Fate, and Warface, as well as providing ongoing support for our CryEngine and its licensees. We have received a lot of positive feedback during and after E3 from both gaming press and gamers, and would like to thank our loyal employees, fans and business partners for their continuous support."

Original report:

German videogame company Crytek, creator of the Crysis franchise and CRYENGINE, may be in serious financial problems, according to German magazine Gamestar.

Attempting to penetrate the industry with its powerhouse game engine, which has been available to license by triple-A developers, may have back-fired as demand is said to be lacking.

DSOgaming has translated the article from the German magazine, who claims that poor sales of the Xbox exclusive Ryse, as well as the lack of interest from developers in CRYENGINE, are the main reasons for its current financial problems, which has led to some Crytek staff receiving late payments for their work.

With over 800 employees currently on the books at Crytek, it’s rumoured that other development studios are circling around the company in order to pick-off talent, though MMO developer Wargaming (World Of Tanks) has been named as one of the interested parties who could buy-out Crytek should it face bankruptcy.

For more on the story, visit DSOgaming.

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