Gearbox Software is working on Furious Four, remastering the original Homeworld games as well as developing a brand new Homeworld, and two unannounced new IPs. It's not, however, making the next Borderlands right now, according to CEO Randy Pitchford. "We have more to do in the franchise, but no there isn't a Borderlands 3," he told Polygon.
"We love Borderlands, and we know customers do too. So we will be doing more in Borderlands. But the thing that, when you think of what Borderlands 3 should be... No. We are not developing that right now. We don't know what that is yet. We can imagine what it must achieve, but we don't know what it is yet. I'm not going to f**k around with you like Valve does with Half-Life 3.
"Look. We know we want it and we know it should exist, but we don't know what it is yet," he continued. "But we are doing things in Borderlands that we'll announce soon, that are good, and that I think people will be really excited about if you love the franchise."
The studio may not be actively developing the game, but it's still contemplating where to take the franchise next. "When you think of what Borderlands 3 should be, it should be massive," Pitchford said. "It should be bigger and better than Borderlands 2. It should carry forward the story."
Expectations are going to be sky high and I for one am beyond happy to take a sizable break between installments.