Take-Two spent $53 million on a cancelled game that was never even announced

In Take-Two Interactive's latest earnings report was information about a $53 million dollar charge for an unannounced title which has been cancelled.
Take-Two stated in a press release that the Company's decision to stop further development of an unannounced title in their pipeline resulted in a $53 million impairment.

The title and associated studio were not named in the report. According to Bloomberg, the title was cancelled by Hangar 13, a Mafia III developer. In 2020, the Mafia: Definitive Edition was also released by the California-based developer.

According to Bloomberg, sources at the studio claim that the game was codenamed Volt. It suffered from several setbacks due to the pandemic and a constantly shifting development focus. The cancellation is expected to result in layoffs for the company.

Take-Twos earnings reports didn't just include the news of a cancelled game. Firaxis Games, which announced earlier today that it would delay its Marvel title, Midnight Suns, until the second half 2022, had previously made this announcement. Originally, the release date for the card-based XCOM like was March 2022.