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Warhorse Studios Rumored to Build $100 Million Lord of the Rings Open-World RPG

Industry whispers point to Czech developer Warhorse Studios secretly developing a third-person open-world Lord of the Rings game backed by a $100 million budget. The project draws credibility from leaks by Polish journalist Ryszard Chojnowski and an Insider Gaming report from September 2025. Fans anticipate a definitive Middle-earth experience from the studio behind the realistic Kingdom Come: Deliverance series.

Rumor Sources Gain Traction

Chojnowski, a Tolkien expert, shared on the Tolkien Polska Podcast that industry contacts first tipped him off months ago, with further confirmations solidifying his belief. This aligns with Insider Gaming's earlier details of a large-scale action RPG aiming to match Hogwarts Legacy's success, including partial funding from the Abu Dhabi Investment Office. Neither Warhorse nor parent company Embracer Group has confirmed the claims, but the consistency across sources builds momentum.

Warhorse's Strengths Align with Tolkien's World

Warhorse earned acclaim for Kingdom Come: Deliverance in 2018 and its 2025 sequel, crafting immersive open worlds with realistic NPC behaviors, deep role-playing, and grounded combat. Recent job listings for Unreal Engine 5 specialists mark a departure from their CryEngine roots, signaling a fresh project. Embracer's control of Warhorse and Middle-earth Enterprises positions the studio well, especially as CD Projekt RED focuses on The Witcher 4.

A Vision for Immersive Middle-earth Exploration

Speculation envisions a seamless map from the Shire to Mordor, featuring dynamic events, choice-driven reactions, day-night cycles, and weather impacts on travel. Warhorse's realism could infuse Tolkien's lore with authentic medieval combat, lifepath systems, and fantasy elements like magic or faction alliances. Such depth would address past Lord of the Rings games' shortcomings.

Legacy of Tolkien Games and Future Stakes

Middle-earth titles range from Monolith's Nemesis System action games to the enduring Lord of the Rings Online MMO, yet recent releases like Gollum and Tales of the Shire disappointed. A Warhorse RPG could offer unmatched freedom for players as rangers, hobbits, or War of the Ring heroes. Development on this scale suggests a late 2020s or early 2030s launch, post-Kingdom Come: Deliverance 2 support, potentially defining fantasy gaming for years.