Mafia III takes place in 1968 in New Orleans, dropping the fictional cities of the previous two games for a real-world locale. The game will apparently include the city as it appeared in 1968 as well as the surrounding bayous and the lower Mississippi. In an unexpected twist, the game will feature the Italian mafia as the enemy, with your character (Vietnam veteran Lincoln Clay) instead joining forces with one of the city's black gangs and going up against the Italians. The character of Vito (from Mafia II) will also return as one of Lincoln's allies.
Mafia III will also apparently be more of an open-world game than its two linear predecessors, with the player having more control over how the gang expands territory and what jobs they take on. The game will also feature a branching storyline and allow you to take over the city via deception and cunning, or outright violence.
Gamespot have a trailer showcasing some actual gameplay. Both trailers suggest that the game will feature a significant amount of licensed, contemporary music from the likes of Jimi Hendrix and The Animals.
Mafia III will be released in 2016.