LucasArts is just the latest company to enter the Unreal Engine 3 arena alongside Gameloft and Trendy Entertainment (the makers of Dungeon Defenders). While there is no indication as to whether or not LucasArts plans on bringing the Unreal Engine 3 goodness to the iOS, the press release does explicitly state the powers of the engine on iOS, Playstation 3, and Xbox 360.
It’s also a long term deal that allows LucasArts to build not just one but multiple games using the Unreal Engine 3.
There’s really not much more information than that, but hopefully we’ll be seeing some Unreal Engine-d games from LucasArts sometime in the near future. I wonder, what would Secret Monkey Island look like with the Unreal Engine 3?