Michael Keaton to return for Beetlejuice 2 under one condition...

Similar to what Winona Ryder stated about her conditions regarding Beetlejuice 2, Michael Keaton has also stated he will return under one condition...

If Tim Burton returns to direct.


Yes, Keaton has gone on record saying he won't return as the freelance bio-exorcist if Tim Burton isn't directing. While speaking with MTV, he did say that the sequel is still in very preliminary stages and he is hopeful that Burton will return.
Seth Grahame-Smith has been working on the Beetlejuice sequel for close to two years now and there is still no real development on the project. It has just been announced and the actors from the first movie are just saying they'll return if Burton returns.

*shrug*

Winona Ryder may return for Beetlejuice 2

Since the sequel to Beetlejuice is actually happening, of course the next step is discussing which cast members are going to return. We already know that Michael Keaton is 100% willing and wanting to return and reprise the title role as Beetlejuice. Now we have some hints that Winona Ryder, who played Lydia Deetz, may return as well.

When speaking with The Daily Beast, Ryder did drop some hints that she will be part of the sequel. That is if both Tim Burton and Michael Keaton are on board as well.

"I’m kind of sworn to secrecy, but it sounds like it might be happening. It’s not a remake, it’s 27 years later. And I have to say, I love Lydia so much. She was such a huge part of me. I would be really interested in what she is doing 27 years later. I would never go near a sequel if it was not Tim and Michael because those guys, I love.”

This is plausible because it apparently takes place 27-years after the events of the first film.  Ryder was 17 when the first movie was made so this would put Lydia pretty close to her real age. Plus, if she has this information and it's actually true this proves that she has at least read a draft of the script. If she does officially join this project and Burton is directing it will mark the fourth collaboration between them. Ryder previously appeared in Beetlejuice, Edward Scissorhands, and Frankenweenie.
Aside from Keaton and Ryder, other cast members that could realistically return are Catherine O'Hara and Jeffrey Jones. Personally, I would love to see O'Hara as Delia once again. I don't see it as feasible to expect Geena Davis and Alec Baldwin to return as the Maitland's, though. This is due to the sheer fact that their age would make their characters ridiculously unrealistic. Ghosts don't age. Period.