New The Lord of the Rings game studio revealed

A new report has revealed the studio working on the rumoured new The Lord of the Rings game.

In September 2025, Insider Gaming reported a new The Lord of the Rings game is in the works and has been for "some time". Its sources claimed the game will be a third-person action title that's designed to "compete with Hogwarts Legacy" in a way.

It added the game will be at least partially funded by the Abu Dhabi Investment Office (ADIO) with a number of further parties involved, including studios Embracer, Revenge and others. Embracer has had the rights to the IP since 2022.

At the time, Embracer said as "a general rule, we do not comment on rumours or speculation" and Revenge declined to comment on "rumour and speculation" too.

But Insider Gaming has now revealed the studio working on the game is actually Crystal Dynamics, which is also developing the two new Tomb Raider games (Legacy of Atlantis and Catalyst) and is owned by Embracer.

There have been rumours flying around recently that Warhorse Studios, the developer behind the Kingdom Come: Deliverance games which is also owned by Embracer, was the studio tasked with making the new The Lord of the Rings game.

Insider Gaming added its sources indicated that Warhorse could be working on a different The Lord of the Rings game but this is not in reference to this specific title.

This was posted in the GamingLeaksAndRumours Subreddit and gamers have been having their say in the comments.

One asked: "How the f*** are they developing 3 AAA games?"

A second commented: "With how many layoffs Crystal Dynamics has had, I'm not sure about this one."

A third added: "Man I hope this isn't the case, I'd much much rather see Warhorse make a massive Lord of the Rings game using their engine."

"Think Warhorse would have been a better fit at this point in time," a fourth agreed.

And a fifth speculated: "I wonder if this is an MMO? That would explain why Amazon still has the page up for it."

Insider Gaming said it approached Embracer for comment on the latest claims and it reiterated it does not comment on rumours or speculation. Crystal Dynamics did not want to comment.

Elsewhere from indy100:

• New The Lord of the Rings game: Everything we know so far
• Artist captures magic of Harry Potter and The Lord of the Rings on used tea bags

How to join the indy100's free WhatsApp channel

Sign up to our free indy100 weekly newsletter

Have your say in our news democracy. Click the upvote icon at the top of the page to help raise this article through the indy100 rankings.