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‘Squid Game’ Season 2 to Premiere on Netflix in 2024
(variety.com)
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It seemed like the Creator had a plan for future seasons since there were little hints to things building up in the background of the first season so I doubt there's no plan and that they're just milking it. Of course it's hard to know if it will be as good since lots of times first seasons are good because they developed the idea for a decade then when there's an opportunity for a season 2 they're not as prepared on the details.