The Lord of the Rings: Gollum definitely has potential, even if what has been shown has not received a resoundingly positive reception. Everything from the graphics and Gollum's design to the game mechanics have received skeptical comments, and the latest we heard from developer Daedalic was that the game is being delayed (for the second time) indefinitely instead of releasing as planned on September 1st.
However, Daedalic are hopeful and believe that the game may show the world what they are capable of creating in Tolkien's world, which they hope will lead to them telling another story there. In an interview with Gamesindustry , Jonas Hüsges says that a success with Gollum could lead to them tackling another part of the universe and telling a new story.
But of course it depends on the game's reception and, above all, how well it sells. One should also bear in mind that Swedish Embracer is in the process of buying up Middle-earth Enterprises and thus many of the rights connected to Tolkien's works.