Here’s a rare bit of good news for console strategy fans: EA today announced the upcoming release of Risk: Factions, an Xbox Live Arcade version of the classic Hasbro board game. Putting a strong focus on multiplayer, this iteration of Risk introduces various factions for players to deploy in either objective-based or world conquest modes.

It’s being developed by Stainless Games, creators of the recent Magic: The Gathering title for XBLA.

Senior EA VP Chip Lange had this to say about the upcoming game:

For the past half-century, millions of RISKfans have been consumed with ruling the world, underscoring the board game’s enduring appeal, We’re now going to bring that masterpiece experience to life and add other amazing layers of XBLA-style gameplay that will take conquests to a new level, including the ability to battle players from around the globe for the first time, truly giving new meaning to the phrase ‘world domination’.

Judging by the press release, EA doesn’t want you to mistake this for Grandpa’s game of Risk. Head-to-head battles with outlandish factions lead into “animated combat missions” which allow you to engage something called “overkill moments.” It’s not clear what either of these terms mean. Graphic cavalry fatalities, maybe?

Expect to see Risk: Factions in the XBLA marketplace early this year. Until then, debate the merits of Ukraine on our message board.