As this is years after the movie, a Rounders 2, if such a thing ever happened, would have to be shown to be a continuation of Mike McDermott’s life, not just follow-up to see how he’s doing. Obviously he was headed off to a Texas Hold ‘Em tournament in Las Vegas at the end of the movie so there needs to be a tie-in to that first and foremost. Matt Damon would need to come back to reprise the role, and possibly be shown to be a reformed gambler who, having won or lost, made the headlines at one point since as an honest gambler he proved that he’s very adept at picking up on people’s tells. After that it would be necessary to come up with some sort of conflict that could allow the story to move forward, so here goes.
Mike finally found his limits as a gambler and after having taken the tournament to the final round he ends up losing (coin toss on that one) but still earning a reputation as one of the greatest gamblers and poker players to ever sit at a table. He continues to play in tournaments for a couple of years after this, but soon the thrill is left behind when he meets someone and finally starts to think about settling down. New York and Jo are left far behind, but one sin from his past just can’t seem to stay away for long enough. It might seem dated and even kind of troublesome, but his time with Worm isn’t done. This time however Mike is less than pleased to see Worm, who has changed from a greasy grifter into a polished but still greasy businessman. Nothing of what he does, whatever it is, is completely on the up and up since Worm is the kind of guy that doesn’t see people as people, but as resources to be tapped when he needs them.
This time around though Worm’s life is once more on the line, but instead of just going down and seeking to take Mike with him, Worm is determined to ruin his old buddy and take his life down the hole with him. It might sound like a recap of the first movie, but this time Worm isn’t running. He’s got backing that’s invested in his future, but it’s going to come at the expense of Mike’s and will ruin him for good since Worm really doesn’t care and sees this as his last chance to get ahead. And somehow, some way, it all revolves around poker. By sucking Mike back into this world though Worm forgets the fact that Mike is a great player all on his own and knows a few tricks that he never bothered to learn. In this manner Mike makes his own deals and ends up tricking Worm in a way that will get rid of him for good.
It’s a very rough plot, but the two key characters to bring back would be Matt Damon and Edward Norton most obviously, no matter that they’re getting kind of old these days. It could work.