I have to think that this got greenlit because Guillermo Del Toro's PACIFIC RIM, a movie about giant robots fighting giant monsters, started filming this week, and I'd bet that studios are gearing up for more giant monster movies now. That just might be the new thing in movies, and I'm good with that. I'm all for giant monsters. According to Hollywood Reporter, producer John Rickard (the NIGHTMARE ON ELM STREET reboot, FINAL DESTINATION) will be producing a film based on the classic video game and is looking for writers to help get the project started. New Line Studios will be releasing the film.
For those too young to remember, RAMPAGE was a three-player game where a giant Godzilla-like creature, a giant Kong-like creature, and a giant Wolfman-like creature attacked buildings and munched on the hapless citizens inside, while fighting each other and the armed forces sent in to bring them down. The game was actually quite fun in its day - the faces the monsters made while chewing up innocent people always made me laugh - and it's a simple enough concept that someone in Hollywood could run with it. If people don't get eaten, though, I think they've lost the point of the whole project. Fret all you want about the video-game-to-movie trend, but this actually would make a more fun film than most, considering there isn't a whole lot of plot to it.
For those not overly familiar with RAMPAGE - a video, with more advanced graphics than back-in-the-day when I played: