A sequel to Dungeons & Dragons: Honor Among Thieves has already been written. Jonathan Goldstein, who co-wrote and co-directed the 2023 movie, says he and his collaborators were hired to create the follow-up and finished the script. He is not sure the studio will ever make it.
Goldstein shared the update during San Diego Comic-Con. In TheWrap's report, he said financial concerns are keeping the project uncertain. The team still loves the cast and believes fans would enjoy the story, but there is no production date or official green light.
The First Movie Cost Too Much for Its Box Office
Honor Among Thieves made about $205 million worldwide against a reported $150 million production budget. A movie does not keep every dollar sold at the box office because theaters receive part of the ticket price. Marketing and distribution add more expenses. A $205 million gross was not enough for a film that costly to earn back its full theatrical investment.
The budget is easy to understand on screen. The movie has dragons, magic, large city sets, creature effects, and action across several fantasy locations. Cutting the price too far could remove the scale and practical comedy that made the first film enjoyable. Making another one at the same cost would ask the studio to accept the same financial risk again.
There are more company decisions involved now than there were in 2023. Paramount, which co-produced and distributed the movie, was acquired by Skydance in 2025. Entertainment One, another producer, was sold by Hasbro to Lionsgate. A sequel has to fit the plans and budgets of companies that have changed since the first film was released.
Fans Found More to Like After Theaters
The frustrating part is that Honor Among Thieves developed a stronger reputation after its theatrical run. Viewers continued recommending its cast, practical humor, and clear use of Dungeons & Dragons rules. It works for people who know the tabletop game, but it explains the world well enough for someone who has never rolled a twenty-sided die.
Chris Pine, Michelle Rodriguez, Justice Smith, Sophia Lillis, Regé-Jean Page, and Hugh Grant gave the movie a group that could be funny without treating the fantasy setting as a joke. Their characters completed one adventure, but the ending left them together and ready for another campaign. Goldstein's comments suggest the finished script was written with that cast in mind.
A finished screenplay still sits early in the movie process. The studio must approve a budget, sign the cast, schedule production, and choose a release date. None of those steps has been announced. The project is not officially cancelled, but fans should not read the existence of a script as confirmation that cameras will start soon.
Goldstein's update also does not confirm that the actors are under contract to return. He said the filmmakers love the cast and wrote something they believe fans would enjoy. Reassembling that group would require new deals and matching several busy schedules, which adds time and cost even after a studio approves the story.
A Smaller Sequel Could Still Work
Honor Among Thieves does not need a larger sequel. A new story could keep the same party, use fewer locations, and focus on one contained mission. Dungeons & Dragons is built around groups solving problems together, so the characters do not need a world-ending threat every time. A lower budget would give the movie a more realistic target at the box office.
The other option is to wait and see whether streaming, rentals, and continued interest improve the financial case. That can keep a franchise alive, but actors and filmmakers do not stay available forever. The longer Paramount waits, the harder it becomes to bring the same group back without major changes.
For now, Dungeons & Dragons 2 exists as a script and an idea the filmmakers want to make. Fans finally have proof that a story was completed, but they still do not have a movie. The decision now belongs to the companies paying for it.
