Chafee: 38 Studios 'living high' on RI dollars
PROVIDENCE, R.I. (AP) -- Gov. Lincoln Chafee says former Red Sox pitcher Curt Schilling's video gaming company had been "living high on the taxpayer's dollars" before it collapsed into bankruptcy last month.
WPRI-TV reports that 38 Studios spent $15.4 million during the first three months of this year, including $5.4 million in March.
Documents released by the Economic Development Corp. show the firm spent $118 million between its founding in 2006 through the end of 2011.
It had no revenue during that time, and expenses were paid from Schilling's baseball fortune and the proceeds of bonds floated by the state as part of a $75 million loan guarantee.
Chafee told the station there was "not a startup atmosphere in the company, where you really hunker down and have macaroni and cheese."