Starbreeze Cancels Project Baxter, Refocuses on Payday Franchise

Starbreeze has cancelled development on its Dungeons & Dragons project, known internally as Project Baxter, to focus entirely on the Payday series. The decision follows a strategic review where the board and management concluded that future growth for the studio lies in its flagship heisting franchise.

Originally announced in 2023 and planned for a 2026 release, Project Baxter was described as a co-operative multiplayer experience built on a live-service model. Despite its potential, the project has now been discontinued. Starbreeze confirmed that this move results in a non-cash impairment of around SEK 255 million, equal to roughly £20 million, representing previously capitalized development costs.

“This was a difficult but necessary decision,” said Starbreeze CEO Adolf Kristjansson in the company’s statement. “Our strategy is clear: Payday is one of the most iconic IPs in gaming, with unmatched reach and potential. By focusing our investment and talent here, we can accelerate delivery, engage players with more content, and reinforce Starbreeze’s position as the clear leader in the heisting genre. This is about sharpening our focus to create the strongest long-term value for our players, our people, and our shareholders.” — Adolf Kristjansson

The studio has confirmed that part of the Baxter development team will be redeployed to ongoing Payday projects. However, limited opportunities within the company mean that an estimated 44 full-time employees and contractors will be affected by layoffs. Starbreeze added that it will actively support those employees in finding new opportunities across the wider industry.

The Payday franchise remains central to Starbreeze’s future. The series has attracted more than 50 million players globally and generated close to SEK 4 billion in lifetime revenue. With this renewed focus, the company expects to accelerate content updates, live engagement, and innovation in heisting gameplay.

“We are doubling down on what our players love – and what we do best – owning the heisting genre,” Kristjansson added. “Payday is more than a game — it’s a genre we created and continue to lead. By redeploying talent and capital, we can bring innovation to heisting gameplay faster, while also laying the foundation for the future expansion of the genre.” — Adolf Kristjansson

This year, Starbreeze also reacquired publishing rights for Payday 3 from Plaion, after its troubled 2023 launch. The studio said the move enables faster content development and broader strategic opportunities for the franchise. According to board member Thomas Lindgren, at the time of the acquisition, owning publishing rights would “significantly accelerate content development roadmap.”

Here’s our coverage of Pay Day 3 x Hotline Miami collaboration.

Financially, Starbreeze expects the cancellation of Baxter to lower its cost base and contribute to achieving a cash-flow positive status in 2026. While the impairment write-down is significant, the company clarified that it has no direct effect on its cash position.

Kristjansson closed the announcement by thanking both the Baxter development team and Wizards of the Coast, the partner behind the Dungeons & Dragons IP. He noted that despite discontinuing the project, the creativity and work achieved in Baxter will carry forward into Payday and the company’s future.

The company intends to present an updated strategy soon, outlining its Payday-centered growth path and long-term vision for expanding the heisting genre into new experiences and markets.