Todd Phillips and Warner Bros. have confirmed through a press release that the third Hangover film will be released in May of 2013, with Phillips saying this will be the last one.
“We're going to surprise a lot of people with the final chapter we have planned," Phillips said. "It will be a fitting conclusion to our three-part opera of mayhem, despair and bad decisions." I hope he means by "surprise" that it will actually involve a plot that's not just the other films regurgitated. The first Hangover film came out of nowhere, and the sequel really suffered with that weight of expectation; Phillips obviously didn't want to change too much for the follow up. All three lead actors will apparently nab $15 million each for their work.
We can expect to The Hangover 3 on May 24th of next year. Will it be set in Dublin? Probably not.