As on now, the company is working on this feature with the selective developers for the preregistration before it gets released.
With this, now user can get the release notifications for the anticipated titles also. This feature is live in Google Play now for the upcoming game Terminator Genisys: Revolution.
Moreover, there are no charges for preregistration and the consumers don't have to buy or install the app if they have registered for it. They will receive a notification, that it is now available in the Play Store.
As of now, we don't have enough information about this information and expecting more details in the upcoming Google I/O developer conference later this month.