As it was announced by 2K, Mafia 3 is real and is currently in development via a twitter post. An official trailer will be released on August 5th at Gamescom at 5am PT / 8 am PT / 1pm GMT.
The first Mafia game was released in 2002 for PC and later in 2004 for the Playstation 2 and Xbox and was well received and noted for being a more realistic Grand Theft Auto competitor – you would get pulled over by the cops and ticketed if you where speeding or ran a red light. The sequel Mafia II, was released in 2010 for the PS3, Xbox 360, and the PC and, like the first game, received generally positive critical acclaim and sold respectably well.
Mafia was originally developed by Illusion software, now known as 2K Czech, who also made Mafia II. However the studio has since undergone major changes in the last few years. Mafia 3‘s reportedly being made by Hanger 13.
Via Polygon