Darksiders 4 and a New Kingdom Come Game Both Targeting FY2027/28

While Warhorse's new Kingdom Come project was only revealed a few months ago, Darksiders 4 has mostly been sitting quietly in Embracer's pipeline for a while now, announced and then more or less untouched by any real update. That changes with Embracer's Annual Report 2025/26, which finally puts a window around both games. Neither has a confirmed release date, but both are now expected to land during the company's FY2027/28, the financial year running from April 2027 through March 2028.

It is not the specific date fans have been waiting for, but it is the clearest signal yet on when Gunfire Games and Warhorse Studios are currently targeting their next major projects.

A Financial Year Window, Not a Release Date

Embracer's fiscal calendar runs a full year off from the one most players think in. FY2027/28 starts April 1, 2027, and closes March 31, 2028, so anything slotted into that year could show up at either end of an eleven-month stretch. The company has been upfront that these are internal targets rather than locked dates, and it says as much directly in the report: exact release timing still has to come from the individual publishers once marketing plans are ready.

That caveat matters. Financial year guidance tells you a game is on track and roughly when to start paying attention again, not when to clear your calendar. Games slip out of these windows fairly often, and Embracer's own release history has plenty of examples of that happening.

Darksiders 4 Is Coming Back Between April 2027 and March 2028

Gunfire Games revealed Darksiders 4 at Gamescom 2025, and since then the game has barely made a peep. It is being built for PC, PlayStation 5, and Xbox Series X|S, and it remains one of the core titles in Embracer's current release pipeline, but there had been nothing beyond the initial announcement to hang expectations on.

The annual report changes that by placing Darksiders 4 inside FY2027/28. It is still a wide window, not a date, and Embracer stresses that any specific launch timing will come later. But after a year of near silence, having any kind of target at all is worth something. The next real update is likely to come from Gunfire Games or THQ Nordic once marketing ramps up closer to the window opening.

Warhorse Is Working on a New Kingdom Come Game, But Don't Call It Deliverance III Yet

The Kingdom Come update is the more interesting of the two, mostly because of how carefully Embracer worded it. The report confirms Warhorse Studios is developing a new release in the Kingdom Come franchise, expected during the same FY2027/28 window as Darksiders 4. What it does not do is call that project Kingdom Come: Deliverance III.

That distinction is worth sitting with. Embracer describes it only as a new release in the franchise, without confirming scope, format, or whether it continues Henry's story at all. Reading it as automatic confirmation of a direct Deliverance sequel would be getting ahead of what Embracer has actually said.

Whatever it turns out to be, Warhorse has the track record to back it up. Kingdom Come: Deliverance II passed five million copies sold within its first year, and Embracer credits it as one of the biggest drivers behind the group's back catalogue performance in FY2025/26. A studio coming off a result like that has every reason to move quickly on whatever comes next.

The Same Warhorse Team Is Also Building a Middle-earth Game

Here is where things get genuinely complicated. Warhorse is not just working on a new Kingdom Come project. The studio is also developing a separate, expansive open-world game set in the Lord of the Rings universe, led by the same team that shipped Kingdom Come: Deliverance II.

Embracer's report treats the two as separate projects, with Warhorse Studios developing both a new Kingdom Come release and a separate open-world game set in Middle-earth. The company has not provided details on how development is being handled across the two projects, and there is still no release window for the Lord of the Rings game. For now, the new Kingdom Come title is the one with a confirmed FY2027/28 target, while the Middle-earth project remains without a publicly announced release window.

Tomb Raider: Catalyst and the Next Dead Island Round Out the Window

Darksiders 4 and the new Kingdom Come project are not traveling alone. Tomb Raider: Catalyst, developed by Crystal Dynamics alongside Flying Wild Hog and Eidos-Montréal for PC, PlayStation 5, and Xbox Series X|S, is also part of the FY2027/28 slate. Unlike the other two, Embracer lists Catalyst as an externally published title rather than one it publishes directly.

The next mainline Dead Island game rounds out the group. Embracer has not attached a title or any concrete details to it yet, but the report specifically includes it among the major releases expected from FY2027/28 onward, and points to the franchise having crossed 20 million lifetime players as reason to keep investing in it.

Put together, that gives Embracer four recognizable franchises, Darksiders, Kingdom Come, Tomb Raider, and Dead Island, all pointed at roughly the same twelve-month stretch.

What's Coming Before Any of This: FY2026/27

All four of those games sit a year out. Embracer's current financial year, FY2026/27, has its own lineup arriving first. METRO 2039 and Tomb Raider: Legacy of Atlantis are the two titles anchoring that year, both currently targeting February 2027. Warhammer 40,000: Dawn of War IV is also part of the current fiscal year, with Embracer having moved its release date to December 3, 2026.

Embracer's pipeline also references other projects in development, including Stage Tour, alongside a wider PC and console portfolio the company has not broken out in detail.

Fellowship Entertainment Wants a Steady Cadence Going Forward

All of this ties back to Fellowship Entertainment, the business unit Embracer is building to house its major gaming franchises going forward. The company expects Fellowship to settle into a more consistent release rhythm starting in FY2027/28, aiming for at least two major games with full economics every year from that point on.

Fellowship is being built around six franchises: Tomb Raider, Metro, Kingdom Come, Dead Island, Darksiders, and Remnant. Seeing four of them line up in the same fiscal year is less of a coincidence and more of a preview of how Embracer wants this business to run once it hits its stride.