Yup, they've made another one. I do have mixed feelings about this though. It seems largely unrelated to the previous movies, its set in Las Vegas, as opposed to Slovakia, and is directed by Scott Spiegal (Intruder), not Eli Roth, and its going direct to DVD, which is never usually a good sign. BUT the trailer does actually look quite good, so I am tempted to give this one a look in.
Trailer appears courtesy of Bloody Disgusting.