Founded in the summer of 1975 in Jericho, New York by Scott B. Bizar, the company's first publications were the wargames Gladiators and Royal Armies of the Hyborean Age. Upon the sudden appearance and massive popularity of Dungeons & Dragons from TSR, the company turned its attentions to role-playing games, seeking out and producing systems created by amateurs and freelancers. Rather than focusing on any one line and supporting it with subsequent supplements, FGU produced a continuous stream of new games. Because of the disparate authors, the rules systems were mutually incompatible. FGU Incorporated published dozens of different role-playing games.
In 1991, Fantasy Games Unlimited Inc. was dissolved as a New York corporation. Bizar continues to publish in Arizona as a sole proprietorship called Fantasy Games Unlimited.
A new FGU website appeared in July 2006 offering the company's back catalog. It promised new products "coming soon". New Aftermath! products began to appear in 2008. By 2010 much of the company's back catalog was available. FGU was seeking submissions to allow the publication of new adventures for some of their existing titles, primarily Aftermath!, Space Opera, and Villains and Vigilantes.
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