Director Shane Black (director of Iron Man 3 and the actor the portrayed Hawkins in the original Predator) said that the film will be an 'inventive sequel' and not a continuity revamp as originally announced. This might be as big of a victory for the interwebs since Ninja Turtles stopped being aliens or the Xbox 180. Shane Black was quoted by Collider, “As far as Fred (Dekker, the writer) and I are concerned anyway, why start over, when you’ve all this rich mythology yet to mine?” Most fans would agree.
The original Predator was released in 1987 and starred Arnold Schwarzenegger as the leader of a miltary special forces team. The team is slowly killed of by an extraterrestrial hunter in the jungles of Central America. A sequel starring Danny Glover that took place in Los Angeles followed in 1990.
In the early 2000's the Predator met his match when two Alien vs. Predator movies were made. The movies didn't follow the comics or the book series and were based in the present. The first movie was PG-13 when combining two R franchises and had an overly complicated story in order to isolate the creatures. The second movie brought the gore, introduced an 'Alien Predator', but had nearly no plot and horrible characters.
The likeliness that this is a sequel to 2010's Predators (with an 's' at the end) is low. The survivors of the game reserve planet's fate will probably remain a mystery. Only time will tell what direction this new movie will take.