What are some of the well known tools for creating games for e-learning?
I think UNREAL Engine is most powerful tool for game developers it has everything you need also ray tracing and many more features are inbuild in this tool you can create an awesome game just like Download Loki Season 2 Full Web Series
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Adobe Flash, Adobe Captivate, Articulate Storyline, Articulate Presenter, and yes, Powerpoint are the industry standards. eLearning Brothers has a bunch of e-learning game templates: http://elearningtemplates.com/el… in some of these commonly used formats.
You can also make simple 8-bit games using GameMaker http://www.yoyogames.com/gamemak…
You could also use Scratch, which requires little to no programming knowledge. Here some interesting examples of games created in Scratch: http://scratch.mit.edu/galleries…
Note though that for GameMaker and Scratch it may be a little tricky natively packaging them in SCORM compliant modules if you are looking to deploy them in a learning management system. Might have to link to them or embed them as web objects.