Jessica Lange is also said to be wanted for a role in the film.
The original followed a college professor (Caan) whose gambling addiction overcomes him even after he gets in big trouble with the wrong guys.
Martin Scorsese was once attached to call action and then "The Hangover" and "Old School" director Todd Phillips circled the picture. Now "Rise Of The Planet Of The Apes" director Rupert Wyatt is in line to helm the project from a script by William Monahan ("The Departed").
Irwin Winkler, who produced the original, Robert Chartoff, and Stephen Levinson will produce the update
James Toback, who wrote the original screenplay and based it on his real life addiction to gambling, has been outspoken about his displeasure over the remake. He thinks it's a terrible idea.
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