A source apparently close to Rockstar Games has told GameSpot that
development on Grand Theft Auto V is "well underway", with
finishing touches like the addition of mini-games being finalised.
The source also stated that a 2012 release is "pretty likely".
The anonymous source stopped short of revealing any details or
specifics on GTA V, with speculation still rife that the game could
be set in Los Angeles and is being developed under the codename
'Rush', as well as casting calls surfacing listing a variety of
typically GTA-esque characters.
There's also a distinct possibility that Grand Theft Auto V could
be set in the Miami-inspired Vice City, but Rockstar is still being
cagey when talking about the game, declining to offer any comments