I will have to say that this sequel is a step down from the original first movie. Why? Well simply because they put too much stupid comedy in it, which really worked as an anchor and dragged the movie down.
Sure it was good to see Chow Yun-Fat reprising the Ko Chun character, and he did act well enough. Unfortunately he wasn't joined by Andy Lau, which would have been a great addition to the movie having him reprising his character as well. Instead Chow Yun-Fat is joined by Tony Leung Ka Fai and Chingmy Yau on the screen.
Storywise, then "The Return of the God of Gamblers" wasn't as enjoyable as the first movie. There were some really great moments in the movie, sure, but in overall it was just not as good as the first movie. And I repeat myself again here, but the implemented attempts at bringing comedy into this movie was so poor that it made the movie suffer instead of improving it.
Don't get me wrong, "The Return of the God of Gamblers" isn't a bad movie, but personally I didn't think too much of it, especially not compared to the first "God of Gamblers" movie. They have strayed a bit too far into the comedy genre for my personal liking.