“This was a difficult but necessary decision,” said current CEO Adolf Kristjansson in an official announcement. “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.”
Kristjansson was appointed CEO at Starbreeze in April of 2025, following Tobias Sjögren being ousted more than a year earlier due to Payday 3’s poor launch. In a note to investors when he was appointed, Kristjansson said, “I join Starbreeze with great enthusiasm for the company’s current and future projects, not the least the upcoming Dungeons & Dragons title. I look forward to continuing the work of expanding the Payday franchise further and building Starbreeze into a true multi-title studio.”
Starbreeze plans to present its updated strategy soon, detailing a renewed focus on the Payday franchise. Kristjansson concluded his statement, saying: “I want to sincerely thank the Baxter team for their passion and creativity, and express appreciation to Wizards of the Coast for their support. Though we have made the decision to not continue forward with this project, we are proud of what was achieved in Baxter, and those contributions will carry forward into PAYDAY and the future of Starbreeze. By concentrating our efforts on PAYDAY we give Starbreeze and all our employees the best chance to succeed.”
Payday 3 was released in 2023 to poor sales and mixed reviews, with a recorded full year loss of $18.5 million for the studio by the end of 2024.