Horses: financial consequences and the future of Santa Ragione

In short

• 'Horses', a surreal horror game from Santa Ragione, was released in 2025 and has since been banned from both Steam and Epic Games.
• The ban has caused a major financial setback for the developer, which is now facing a $42,000 debt despite selling 30,000 copies and generating around $100,000 in revenue.

GAME-scanner analysis

The situation surrounding 'Horses' highlights the challenges indie developers face in a competitive market. Santa Ragione self-funded $50,000 in development costs, but the game’s ban has severely damaged both its income and reputation. Director Andrea Lucco Borlera received $30,000, while $62,000 went to private investors, increasing the pressure on the team. The question now is how Santa Ragione can recover from this financial blow and what the future holds for the studio.

What does this mean for players?

For players, the future of 'Horses' and other Santa Ragione projects is uncertain. The developer’s financial troubles could lead to fewer innovations in the indie game scene, putting the availability of unique and bold games at risk. Players should be aware of the risks indie studios face, especially at a time when major platforms dominate the market.