NeoGAF reports that Gun Loco, initially announced at last year’s Gamescom, has terminated development according to a message on the official website released today. The game was planned for release on Xbox 360.
UPDATE: Square Enix has responded reiterating the same information as above with no explanation as to why the game was cancelled. That about wraps it up.
We’ve reached out to Square Enix for an official comment and will let you know shortly.