EA's Frank Gibeau revealed they aren't developing another, while Paramount claims such a thing has "not been decided" yet. EA then clarified, saying"nothing has been decided" too.
Perhaps it was more of the gamer inside EA Games label president Frank Gibeau then the business man who foretold no more would be coming. "We're not going to do another one," he said.
No Godfather games are apparently in the EA schedule for the next three years. Paramount countered with: "Plans for the next Godfather game have not been decided."
EA was asked to clean up the mixed messages with a spokesperson saying: "We do not currently have a Godfather game in development. Nothing has been decided as to future sequels. Paramount is a great partner." That seems to only add clutter, not sweep it away.
It's likely EA will beat this dead head-less horse sometime in the future. *sigh*