In fact, not only has Michael Keaton spoken towards the project in interviews, so have Tim Burton and Winona Ryder as well.
Plus, previous Burton collaborator Seth Grahame-Smith had been tapped for writing duties on the long awaited sequel, but besides these whispers, nothing official ever formed up.
That said, it isn’t hard to see why it shouldn’t be happening, as the original Beetlejuice was a one in a million film, and you just can’t capture improvised magic the same way twice.
Whether it was the failure of Smith and Burton’s previous effort, Dark Shadows, or some other external factor, it’s hard to tell why the project hasn’t made its way into production by now.