UPDATE: Along with the news below, it was announced that Destiny's beta will begin in July as announced during today's investor's meeting.
Activision Blizzard's Bobby Kotick has revealed that the company is willing to spend in the "ballpark" of $500 million on Destiny to both develop and promote the game. This figure, if it is accurate, will set a new record for most dollars invested in and spent on a game.
Investors hope that "Destiny," scheduled for release on September 9 from Bungie, the same studio that created Microsoft's best-selling "Halo" franchise, could re-invigorate Activision's revenue, which slid 6 percent in 2013.
The company signed a 10-year contract with Bungie in 2010 that gives it worldwide distribution rights and significant control over the potential franchise's development.
"If you're making a $500 million bet you can't take that chance with someone else's IP," Activision CEO told the Milken conference. "The stakes for us are getting bigger."
Read the full article at Reuters.
The big question is "How much is too much?" What do you think?