Intellivision Entertainment does not have enough money to finalize the Amico console. Its CEO Phil Adams announced this in a letter to users who pre-ordered the device.
Adams said the company had to cut operating costs and lay off a “substantial” portion of employees. He did not specify how many people ended up out of work.
Now Intellivision Entertainment will start selling licenses to release games on its IP on third-party platforms. According to Adams, this will help the company get additional funds and will not affect Amico’s sales too much. In addition, this way Intellivision Entertainment will increase awareness.
Recall that initially Amico was supposed to be released in 2020, but then its release was postponed several times. In February, the U.S. Securities and Exchange Commission indicated that Intellivision Entertainment has never made a profit since opening in 2018 and may close in July 2022.