CARY – Epic Games, a privately held company worth by some estimates well over $30 billion, will continue to move ahead with construction of a new headquarters despite agreeing on Monday to pay a record $520 million in fines to the Federal Trade Commission for privacy violations and other matters involved with its massive hit Fortnite game, the company says.

According to a spokesperson Epic remains committed to the massive project where Cary Towne Center once stood along Walnut Street.

As big as the fine is, it represents only some 10% on Fortnite annual revenue, according to data published by BusinessofApps.com. 

Epic Games to pay record $520M to FTC to settle ‘unlawful’ privacy, shopping issues

Fortnite launched in 2017 and delivered a record $5.8 billion to Epic in 2021, the website notes.

Earlier this year, Epic raised some $2 billion from investors. It is 40% owned by China-based Tencent.

Tim Sweeney, the multi-billionaire owner and found of the company and a frequent poster on Tweeter, issued a brief statement via a Tweet:

“Epic signed a settlement with the FTC covering their concerns with Fortnite item shop features, refunds, and parental permissions,” he wrote.

Sweeney then linked to a statement issued by Epic.

“Here’s detail on how we’ve been evolving Fortnite since 2017, as well as thoughts all game developers should consider.”

Twitter reaction

Some Twitter users reacted negatively to Epic’s settlement.

“Epic Games is the company Tim Sweeney says Apple is,” posted one. Sweeney and Epic have been aggressively involved in antitrust lawsuits against Apple as well as Google.

“They’re certainly on their way. Give it 5-10 yrs when the Epic Games Store is shutting down competing storefronts they claim to be championing because they can’t sustain the same practices (the only way the EGS [Epic Games Store] can is because they have the bottomless money pit that is Fortnite,” added another.

FTC’s complaints in detail: Privacy violations and illegal ‘dark patterns’

‘Fortnite of Today’

A number of changes already have been made by Epic, moves that it says will improve privacy. It also recently set up so-called “cabinet accounts” and established new account registration procedures.

Addressing what it says is right for players, the company has launched the “Fortnite of Today.”