Filming took place in Australia under the film production and distribution company Summit Entertainment in conjunction with Thunder Road Pictures and Proyas’ production company Mystery Clock Cinema. While the film’s production budget was $140 million, the parent company Lionsgate’s financial exposure was less than $10 million due to tax incentives and pre-sales. The Australian government provided a tax credit for 46% of the film’s budget. When Lionsgate began promoting the film in November 2015, it received backlash for its predominantly white cast playing Egyptian deities. In response, Lionsgate and director Proyas apologized for ethnically inaccurate casting.

Lionsgate released Gods of Egypt in theaters globally, starting on February 25, 2016, in 2D, RealD 3D, and IMAX 3D, and in the United States, Canada, and 68 other markets on February 26. It received negative reviews from critics and grossed a total of $150.7 million against a $140 million budget, becoming a box office bomb and losing the studio up to $90 million. It received five nominations at the 37th Golden Raspberry Awards.