Signs point to yes for "Magic 8 Ball."

The upcoming movie based on the retro toy is making progress. Mattel Films has teamed up with Blumhouse Productions, and director Jeff Wadlow has boarded the project, Deadline reports. Wadlow is also set to write the script with Jillian Jacobs and Chris Roach, both of whom he collaborated with on Blumhouse's "Truth or Dare."

Mattel Films' Robbie Brenner said in a statement Monday that there is "untapped potential for storytelling" when it comes to the Magic 8 Ball. He shared his confidence in the team they've put together, saying that "there are no partners better suited to tell the Magic 8 Ball story" with the studio than Wadlow and Blumhouse. Meanwhile, Blumhouse's Jason Blum said that they look forward to "playing against expectations" as they bring the toy to life.

Wadlow's other credits include writing and directing films like "True Memoirs of an International Assassin," " Kick-Ass 2," and more. He's also writing and directing the upcoming "Fantasy Island." We'd say the outlook is good for the upcoming "Magic 8 Ball."

The film was previously in development nine years ago, as Deadline reports. This time, there seems to be more momentum. It is one of six projects Mattel Films has in the works, all based on its popular toys.

[via: Deadline]