"Ray Donovan" is one of the best and highest rated shows under Showtime, and it is no surprise why the show is already preparing for its season 3 arc. Production for the third season already began on Jan. 26 and casting updates have been officially released as well. 

Soap actor Jack Wagner is joining the cast of "Ray Donovan," reports Variety. He has been added to the high-profile lineup that will surely help make season 3 the best one yet. He will play Sandy Patrick, a game show host described as "obnoxious and self-important." 

Wagner was announced as a guest star for the new season although it is still uncertain as to which episode he will be in. Nonetheless, he will appear alongside another guest star, Cheryl Ladd, who will play the game show hostess named Tina Harvey. 

Compared to Wagner and Ladd, Katie Holmes seems to have a bigger guest role in the season 3 arc. According to Variety, the 36-year-old actress will play a character named Paige. She is a "shrewd and chic businesswoman" who will seek the help of Ray Donovan. As to what trouble she will be in remains to be seen. 

In line with Holmes' story in the show, Ian McShane will play a recurring role in the season. His character, Malcolm Finney, is a billionaire movie producer and is also the father of Paige. Malcolm has a strong relationship with Ray after he hired his services in the past. McShane will be reunited with his former co-star from "Deadwood" Paula Malcolmson who happens to play Abby Donovan, Ray's wife. 

As for the series regulars, Liev Schreiber will continue to play Ray Donovan, and Jon Voight will also reprise his role as Ray's father Mickey.

"Ray Donovan" season 3 will have 12 episodes. It's air date has not been announced yet, but the speculations point to the summer of 2015 for its possible premiere.