Midway loses $100 million to the ether in 2007

This is not going to be pretty. Midway Games, publisher of a bunch of games consumers didn't buy, proved that by announcing it lost $97.4 million in 2007. This isn't anything new for the publisher, which lost $78 million in 2006 and plans to keep hemorrhaging cash this upcoming quarter.

Despite the bleak forecast, Midway CEO and president, David F. Zucker, is happy with sales of the company's casual titles and the "eager fan base" of Unreal Tournament 3 on PS3. Zucker believes 2008 will be a better year for Midway with a new "casual games portal," reinvigorated franchises and the release of titles like This is Vegas (starring a look-alike of Attack of the Show's Kevin Pereira). With Atari having its serious course correction, does this make Midway our new Atari?