CVG reports that a single - but rock solid - source has informed them that This Is Vegas has been canned by its owners, Warner Bros. Studios after being in development for the last three years at a cost of more than $40m.
We've called Warner's several times this morning for a confirmation or denial. The company's voicemail is being, well, voicemail.
The developer behind what was originally a Midway title, Surreal Software, was closed down last year. Midway had apparently already spent more than $40m on development. Surreal staff moved to positions with developers Monolith and Snowblind. But development was supposedly still under way on the sandbox-style title that Warner's bought in a $30m deal for Midway's assets.
CVG's source states that, "It was moving along to a point where the title was on the schedule for release late last year - but still needed another eight months to a year to finish with a studio burn rate of $250,000 per month."
Warner Bros. is yet to issue a statement regarding the matter but be sure to continue checking SPOnG to see if the company answers the phone!