Asmodee has tightened its grip on Middle-earth, becoming the exclusive tabletop games category manager for The Lord of the Rings and The Hobbit. The move has significant implications for the future of all tabletop games set in Tolkien’s world, including the popular roleplaying game, The One Ring, currently published by Free League.

The new strategic agreement was announced between Asmodee and Middle-earth Enterprises (MEE). Both companies are part of the vast Embracer Group, making this a significant internal consolidation of power over the iconic license.
Asmodee, a global publisher known for hits like Catan and Ticket to Ride, will now oversee the strategy and development for all tabletop products. This includes working with external partners, effectively making them the gatekeeper for any company wishing to play in Tolkien’s sandbox.
For fans of the Swedish publisher Free League’s award-winning TTRPG, The One Ring, the announcement raises immediate questions. The press release offers some reassurance, stating, “Existing licensing agreements between tabletop game publishers and MEE will continue in their current form.” However, with Asmodee now managing that relationship, the industry giant will undoubtedly have a strong influence on the direction and future of the RPG.
This development centralises control of one of fantasy’s most important settings. Asmodee has created a dedicated team, led by 30-year industry veteran Luke Peterschmidt, to manage the category. Their stated goal is to provide fans with a “coherent portfolio across all genres” and grow the brand’s footprint.
Thomas Koegler, CEO of Asmodee, framed the deal as a natural extension of a long partnership. In a statement, he said,
Becoming the exclusive category manager for such iconic works is an exciting milestone and a testament to 25 years of a successful relationship with Middle-earth Enterprises.”
For Middle-earth Enterprises, which has been part of Embracer Group since 2022, the move leverages Asmodee’s market dominance. Lee Guinchard, CEO of Middle-earth Enterprises, added,
With its unique combination of games creation, publishing and distribution capabilities, asmodee has defined modern tabletop games for the past 30 years. We believe they are the best placed company to help make such an incredible world as Middle-earth, thrive.”
Free League Publishing successfully acquired the rights to The One Ring RPG in 2020 after the previous publisher, Cubicle 7, surprisingly dropped the license. They have since published a highly successful second edition of the game. When Embracer first acquired MEE, Free League CEO Tomas Harenstam told Geek Native that their relationship was strong, noting, “We don’t foresee any major changes.” Today’s news, however, fundamentally alters the landscape by placing their primary competitor as the manager of that license.
Publishers interested in creating new games or accessories set in Middle-earth must now go through Asmodee, who have invited pitches via a new licensing email address.
Geek Native reached out to Free League’s PR team for additional comment.