Phillips Takes First Drama--"The Gambler" Redux

"The Hangover" and "Old School" director Todd Phillips is in talks to helm the long gestating remake of the James Caan-led 1974 crime drama "The Gambler" says The Hollywood Reporter.

Martin Scorsese was once attached to call action on the story that follows a UCLA literature professor with a gambling problem who feels the heat of several gangsters.

William Monahan ("The Departed") wrote the new version of the screenplay.

Irwin Winkler, who produced the original, is returning in the same capacity.

The pic is expected to be Phillips' first film once he finishes "The Hangover Part III" which begins production next month.