At the time of Nintendo's latest financial briefing, the president of Nintendo, Satoru Iwata announced this game, then he said he would make a party game for the Wii. Wii Party will have a mode called the Living Party, where Iwata promised that this game will have unique game play that can only be done using the Wii remote. When we see the screen shots above, it would seem that one of the modes of this game will make us able to get around the map with more or less the same way with Mario Party.
There has been no announcement about the release date of this game, but Iwata Party hopes that the Wii will become a very important title for them next year.