This is Vegas, an open-world action, dancing and gambling game from Midway/Warner and Surreal Software, is reported to have been canned after racking up development costs in excess of $40 million.

When Midway ran into financial trouble last year, This is Vegas was sold along with many of the publisher's other assets to Warner.

The game's cancellation might not come as a great surprise, but the money spent on its development probably will.

A CVG source has said "Midway spent in the region of $43 million up to the point when it was being sold to WB"

"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," added the source.

The game had been scheduled for release on Xbox 360, PS3 and PC.