Director Shane Black touched on a few points regarding The Predator, its script, where it stands in terms of reboot or sequel territory and the current casting situation during an exclusive interview with to JoBlo recently. During the interview, Black reiterates that they've got a "solid script" but that currently, no casting decisions have been made. As previously reported, Boyd Holbrook is currently in talks for the role originally obtained by Benicio del Toro. Shane expresses great interest in Holbrook, seeming optimistic that he will land the role.
Regarding where The Predator sits in the timeline and whether or not the film is a reboot or sequel, Black confirmed that the film will act as more of a sequel than a reboot, but is being crafted to double as a stand-alone film. He mentions that the events of the original 1987 Predator will be referenced in The Predator and that this film will take place 30 years after the events of the original.
I think it has to stand on its own two feet, but our goal is to make sure it acknowledges that, yeah, it is 30 years later in the continuity of the story. In other words, Dutch Schaefer's patrol, which was attacked and largely slaughtered, happened 30 years ago in the context of the story. It's referenced, it's part of the mythology. In that way, it's more of a sequel than a reboot.
Most of the information stated, we've already known about for some time, however it's nice to hear Black confirming these points for us once again. Black also recently spoke with Collider, where he also confirmed that The Predator will be shot with an R-rating in mind and will not dumb down any of its elements to cater to a younger demographic (previously acknowledged here).
Filming for The Predator is expected to begin as early as February, 2017 under the production title Ollie. Studio ADI, the visual effects studio behind the Alien vs. Predator films will be handling the practical Predator effects. The Predator will arrive on Earth, February 9th, 2018.
Artwork used for this post's banner comes from this incredible piece entitled "Predator - it ain't no man" by cantas78 on DeviantArt. Check out the full version:

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