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Sylvester Stallone has already said that we have likely seen the end of the story for his most popular screen character, Rocky Balboa, but Sly's other decades-long franchise might still have some life left in it. The actor is hinting that we maybe haven't seen the end of John Rambo, even though the title of the last film, Last Blood, implied some sort of finale.
There's certainly nothing in Rambo: Last Blood that prevents a sequel from taking place, since Sly certainly implies it here I can confirm that Rambo does survive the movie and he just sort of rides off into the sunset, so he could certainly find himself in a new situation that requires his particular skills.
Of course, we could also end up with a new Rambo movie that doesn't actually include Sylvester Stallone. Back when Rambo: Last Blood came out, the actor indicated that he'd like to see a Rambo prequel film, and so if something like that happened we could see the franchise continue in new hands.
As far as what the odds are of a direct Rambo sequel, it's maybe not the least likely idea in the world. Last Blood wasn't exactly a box office titan, which doesn't make another sequel obvious, but it also wasn't a particularly expensive movie to make. It cost about $50 million and made just short of $100 million worldwide. A sequel would probably need to be made for less money, but Rambo isn't exactly a special effects blockbuster, so that seems possible.
Rambo has been an interesting franchise over the years. First Blood, saw Sylvester Stallone in a film that, while it wasn't light on action, was much more focused on the character drama of a man suffering from PTSD. The sequels, however, have been unapologetic action movies. First Blood Part II actually has Rambo basically go back and refight the Vietnam War (and win). The latter two Rambo films, Last Blood included, have also gone hard on the visceral violence. I can only imagine how bloody the Extended Cut of Last Blood is considering the theatrical cut was not shy in that regard.
I wasn't the biggest fan of Rambo: Last Blood, though I've been told that as an action movie for its own sake it was quite fun, so I'm not sure we need another one, but who knows? Maybe there's more to this story. Would you like to see another Rambo movie? Let us know in the poll below.