The action sports game, based on Mexican 'Lucha Libre' style wrestling, sees players compete in arenas used by official administrative body the AAA (Asistencia AsesorÃ­a y AdministraciÃ³n) and other traditional Mexican settings.
Traditional Mexican wrestling is a fast-paced sport, with competitors donning colourful costumes, masks and make up.
Popular in Mexico for more than 100 years, the sport has expanded into the United States and has started to gain fans across the globe.
Players of the video game have 30 wrestling characters to choose from.
As is the case in real life wrestling, the aim of the game is both to win and to avoid humiliation - in the Mask vs. Hair contest the loser either has their head shaved on stage or forfeits their trademark wrestling mask for life; the ultimate symbol of pride for many real Lucha Libre wrestlers.
To mark the launch, Hispanic publisher Slang staged a real life Lucha Libre event in the middle of E3. The winner was Dr. Wagner Jr, and his prize was to become the main image on the game's packaging.
Due for release in August this year on all console and hand-held formats, the game will ship with a single player campaign that will let players customise and improve their character, coupled with an online match-up that sees users enter forfeit matches, such as Mask vs. Hair.
Mexican wrestlers have appeared in video games such as Tekken and Street Fighter IV before, but this is the first time that a game dedicated to Lucha Libra has been released.
The developers say that future editions are already in the works.
One of the more unusual titles at E3, the worlds largest video games exhibition held each year in Los Angeles, is Konami's Lucha Libre AAA: Heroes del Ring.