When Warner Bros. came to us about it, we said the only way we'd do it if we got Tim [Burton's] blessing and involvement, and we got that, and the star of the movie has to be Michael Keaton as Beetlejuice, and it's a true continuation 26 years later. Not just throwing him in as a cameo going, 'Hey, it's me. I endorse this movie.' We're not there yet [with Keaton] because we don't have a film to present to him."
David Katzenberg also reiterated that Beetlejuice 2 is a sequel and not a remake. It is still early in the development of Beetlejuice 2, but it seems like Seth Grahame-Smith and David Katzenberg are heading in the right direction.
Beetlejuice 2 is in development and stars Michael Keaton. The film is directed by Tim Burton.