Its official gaming fans! Red Dead Redemption 2 is in the works.

Take-Two CEO Strauss Zelnick says that Red Dead Redemption is now considered a "permanent franchise" joining the ranks of Grand Theft Auto and Borderland game series.

According to reports from VG24/7, Strauss Zelnick spoke about the company's strategy of being selective about the games there going to release during the Cowen and Company Analyst conference.

"The risk of just [releasing more games] is that you end up just bulking up your release schedule and that isn't really what consumers want. Consumers want better, not more," stated the CEO. "So our selective approach, which we've taken since '07 I think has paid off. Now, we have gotten more by taking that approach; we've launched one new successful franchise every year and I would like to keep doing that particularly because I talk about permanent franchises, but not everything is going to be a permanent franchise. Some of our great franchises eventually will lose their luster and some will hopefully be permanent."

He further adds;

"I pretty much know the ones that I can assure you are permanent. It's obvious that GTA is a permanent franchise as long as we keep delivering this incredible quality; it seems quite obvious that Red Dead is a permanent franchise, again with the same caveat, or Borderlands, for example, and NBA and others."

Meanwhile, there are speculations that Red Dead Redemption 2 will not appear at E3 2014.

According to reports from Gamepur, an industry insider by the name Shinobi602 claimed that the game is not expected to show up in E3 2014 given the track record of Rockstar Games duringthe past events.

Red Dead Redemption is a Western action-adventure game developed by Rockstar San Diego and published by Rockstar Games. It is a spiritual successor to Red Dead Revolver and spawned four expansion packs: Legends and Killers, Liars and Cheaters, The Hunting and Trading, and Undead Nightmare.

Are you excited for Red Dead Redemption 2?