Square Enix announced today via its Japanese site that it has cancelled Xbox 360 exclusive action shooter Gun Loco. The game was first announced at last year's Gamescom event. According to Andriasang, no reason was given for the cancellation. The story behind the canned title followed criminals who had been imprisoned on an abandoned planet, competing in bloody races to ensure their freedom. Three convict characters called Maddox, Nuts and Mifune had already been revealed, and the game was being publicized as a run and gun shooter. An early trailer released last summer stated, "Survival is essential, but escape is the only thing that matters." Earlier in the year, Square Enix revealed a 77 percent fall in profits for the first nine months of fiscal 2010, attributing the fall in earnings to "intensifying competition in the console game market." However, the publisher said this week that it was looking to set up another Canadian studio in the coming months, with the new development team starting sometime next year.
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