The Dead Island Definitive Collection will be available on May 31 for PlayStation 4 and Xbox One, the price will be 40 USD. The definitive collection will include the original Dead Island (Definitive edition) , as well as Dead Island: Riptide (Definitive edition). The collection will also include a new 16-bit game, Dead Island: Retro Revenge. The two games will be completely remastered with all DLC and patches.
The article on GameSpot States that,
“Deep Silver is promising higher quality textures, a “photorealistic” lighting system, physically based shading, image quality enhancements by way of anti-aliasing, improved game models and geometry assets, HBAO and other motion blur effects, and updated game UI. Additionally, the PS4 version makes uses of Remote Play and shareplay, as well as streaming and recording. All versions also have four-player online co-op.”
The definitive edition of both games can be purchased individually for 20 USD each, but will not come with the Retro Revenge.