Microsoft touted a new Phantom Dust at E3 2014 but it had been delayed after developer Darkside Game Studios shut down in 2015. According to an announcement on YouTube Live, Phantom Dust will apparently be releasing in 2017 for the Xbox One and PC. It will feature competitive play made possible thanks to the upcoming Arena feature on Xbox One. Xbox Play Anywhere will also be applicable to the release.
Here’s where things take a strange turn – Microsoft Studios head of publishing Shannon Loftis indicated during the same stream that Phantom Dust would be receiving a remaster in 2017. This remaster will apparently use a lot of the assets from the first game.
Are the remaster and new game one and the same thing? We’ll have to wait and see but it’s likely that development of Phantom Dust has shifted towards heavily remastering the original rather than developing a new game (which was anyway meant to be a reboot). Stay tuned for more information as this story hopefully becomes clearer.