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Afaik they pretty much have to since they have a deal with the Singaporean government that gives them subsidies.This game will never come out, will it?
But yeah, this has been in development since 2013 in various forms and I very much doubt they're going to get their money back. As someone on Era pointed out, it makes a lot of sense that the same team is seemingly working on a remake of Black Flag so they can save as much as possible from S&B.