Square Enix filed a new trademark for Outriders yesterday through EUIPO (the EU Intellectual Property Office), seemingly in preparation for an E3 reveal. [Thanks, wcctech!]
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Square Enix previously mentioned during their financial results briefing that they plan on expanding their IP portfolio through major releases of existing and new IPs, which Outriders might be a part of. It could also be a mid-sized title, as Square Enix mentioned that several mid-sized titles will be released within FY2019.