Warhorse Studios Reportedly Developing $100 Million Lord of the Rings Game

Warhorse Studios, a subsidiary of Embracer Group, is reportedly developing a new Lord of the Rings game. This ambitious project is said to have a budget of $100 million.

Funding and Development Details

The Abu Dhabi Investment Office is reportedly providing the $100 million in funding for the game's development.

The game is described as a third-person action role-playing game (RPG) with an immersive open-world design, drawing comparisons to Hogwarts Legacy. Warhorse Studios' prior experience with open-world RPGs, such as Kingdom Come: Deliverance 2, is cited in relation to this project, underscoring their capability in the genre.

Background of the Rumor

Speculation about a new Lord of the Rings game with a $100 million budget reportedly emerged in late 2025. Industry veteran Ryszard Chojnowski reportedly mentioned Warhorse Studios as the developer on the Tolkien Polska podcast, citing credible sources for this information. This aligns with Embracer Group studios holding the rights to Lord of the Rings games, and Warhorse Studios being a subsidiary of Embracer Group.

Current Status

This information is currently unconfirmed by Embracer Group or Warhorse Studios and remains a rumor.