According to star and producer Vin Diesel, the answer is yes.
"My die-hard gamers want Taigon to deliver the third chapter in the Riddick game," Riddick said in an interview with ScreenCrush (via CVG). "And we just over the past couple of months, just this year, reassembled that team from Starbreeze that brought Escape From Butcher Bay to create the third game." According to IGN, the game will be "more of a MMO."
While the prospect of a new Riddick game should get fans rightfully excited, there is reason to pause. Diesel is no stranger to over-promising and under-delivering. Diesel has been dreaming up an MMO for years now--with nothing to show for it yet.