You probably remember the ending of the first Den of Thieves. Donnie, the "slow" bartender played by O’Shea Jackson Jr., walks into a London diamond exchange while Big Nick (Gerard Butler) realizes he’s been played like a fiddle. It was a classic "Keyser Söze" moment. Ever since then, fans have been screaming for a follow-up. Well, Gerard Butler Den of Thieves 2—officially titled Den of Thieves 2: Pantera—is finally here to answer whether Nick can ever actually outsmart Donnie.
Honestly, it’s been a long road.
The movie hit theaters on January 10, 2025, after years of delays involving shooting schedules and Butler’s other projects like Plane and Kandahar. If you haven't seen it yet, or you're just catching up on the buzz, there's a lot of noise about what this movie actually is. Is it a buddy cop movie? A gritty heist thriller? Sorta both.
Why Big Nick is basically a different person now
When we meet Nick O'Brien in the sequel, he’s a mess. Even bigger than before. In the first film, he was a "bad-boy" cop with a badge and a crew. In Pantera, he's recently divorced, seemingly suspended or fired from the LASD, and totally obsessed. He’s spent years tracking Donnie across the Atlantic.
He’s broke. He’s lonely.
Butler plays him with this livewire, disheveled energy that feels less like a hero and more like a guy who’s just tired of being on the "right" side of the law while getting nothing for it. This is where the sequel flips the script. Instead of just a cat-and-mouse chase, Nick actually ends up teaming up with Donnie.
It’s a "Heat" style dynamic but with more whiskey and less professional respect.
The Pantera connection: It’s not just a cool name
The title Pantera isn't just because it sounds tough. It refers to the "Pink Panthers," a very real-life network of jewel thieves from the Balkans. Writer-director Christian Gudegast is known for being a research nerd. He actually brought in real former thieves and investigators to consult on the script.
The heist in the movie is based on the 2003 Antwerp diamond heist—often called the "flawless heist." In the film, Donnie has integrated himself with these European professionals. They aren't the rough-and-tumble crew from the first movie; these guys are surgical.
What actually happens in Europe?
- The Setting: While the story is set in places like Antwerp and the South of France, a huge chunk of it was actually filmed in Tenerife and the Canary Islands. They transformed Spanish streets into French boulevards.
- The Heist: Donnie and his new crew (including the leader Jovanna, played by Evin Ahmad) are targeting the World Diamond Centre.
- The Twist: Nick tracks them down, but instead of cuffing Donnie, he makes a play to join the job. He wants the payday. Or does he? That’s the tension that carries the middle of the movie.
Is it better than the first one?
That depends on what you liked about the original. The first Den of Thieves was a heavy-hitting, testosterone-fueled shootout movie. It was loud. This one? It’s a bit more of a character study.
👉 See also: Why the Blood Sweat and Tears Discography is Still the Best Jazz-Rock History Lesson
Donnie is no longer the underdog. O’Shea Jackson Jr. lost about 15kg (33 lbs) for the role to look "leaner and meaner." He’s calling the shots now. The dynamic between him and Butler is the best part of the film. They have this weird "silverback gorilla" respect for each other.
However, some critics—and honestly, some fans—felt the middle section dragged a bit. There’s a long scene in a nightclub that feels like it could have been trimmed. But when the heist actually starts? It’s gold. The sequence involving an elevator shaft is some of the most claustrophobic filmmaking I've seen in a while.
The real-world accuracy (and where it fails)
Gudegast prides himself on "low-tech" solutions. In one scene, the crew uses gelato containers to block security sensors. That sounds like a movie invention, but it’s actually based on real tactics used by European thieves.
The movie does lean into some tropes, though. You’ve got the angry Italian mob boss, Matteo "The Octopus" Venzolasca, who wants his stolen pink diamond back. It’s a bit cliché, but in a Gerard Butler movie, you kinda expect a little bit of that over-the-top energy.
What you should do next
If you’re planning a rewatch or heading into the sequel for the first time, keep these things in mind:
- Watch the ending of Part 1 again. You need to remember exactly how Donnie manipulated the Fed heist to understand why Nick is so salty in the sequel.
- Look for the cameos. Michael Bisping returns, and there are several nods to the "Panther" mafia’s real history.
- Expect a slow burn. This isn't John Wick. It’s a procedural heist film that takes its time building the tension before the guns start barking.
Gerard Butler Den of Thieves 2 is a rare sequel that actually tries to evolve the characters rather than just repeating the same plot. It’s grimy, it’s long (144 minutes!), and it definitely sets the stage for a third chapter.
If you want to see the "accurate" version of the heist the movie is based on, look up the 2003 Antwerp Diamond Heist. You'll see just how much the filmmakers lifted from real life, especially the way they bypassed the infrared sensors.