This paper investigates the effects of gaze-based player guidance on the perceived game experience, performance, and challenge in a first-person exploration game. In contrast to existing research, the proposed approach takes the game context into account by providing players not only with guidance but also granting them an engaging game experience with a focus on exploration. This is achieved by incorporating gaze-sensitive areas that indicate the location of relevant game objects. A comparative study was carried out to validate our concept and to examine if a game supported with a gaze guidance feature triggers a more immersive game experience in comparison to a crosshair guidance version and a solution without any guidance support. In general, our study findings reveal a more positive impact of the gaze-based guidance approach on the experience and performance in comparison to the other two conditions. However, subjects had a similar impression concerning the game challenge in all conditions.