Most people know Roland Emmerich as having a reputation like that of Michael Bay. That is, the man is capable of creating epic "popcorn" movies such as the original Independence Day (1996), and many believe that this director is constantly making the same film with Godzilla (1998), The Day After Tomorrow (2004), 2012 (2009), and Independence Day Resurgence, which is an official sequel to the hit 1996 film. He also made the hit film Stargate back in 1994, and now, he is actually about to make it again, but not as a sequel, but a reboot, starting from scratch.
This is not the first time that Emmerich has at least talked about revisiting the world of Stargate. The film was a modest hit, and it began the series Stargate SG-1, which many will say was a bigger hit. The show began on Showtime before the SyFy Channel (then then Sci-Fi Channel) picked it up and kept it going for 10 seasons. The show developed the universe established in the film way more than the original film, and introduced the SG program of earth soldiers that would explore new worlds using other stargates while fighting against the Goa'uld.
What is interesting is how Roland Emmerich wants to create a sequel to Stargate, but wants to ignore everything in SG-1. What is even more interesting is now he is saying that he wants to completely restart the Stargate franchise completely from scratch.
This is probably a good thing, as the 1994 film is pretty dated, and it actually ties in very little with the SG-1 series. There seems to be this thing to reboot speculative fiction franchises, as Star Trek was rebooted, and the Alien series is planned for some restructuring of its mythology as well. The X-Men series has been restructured thanks to time travel plot elements, and it can be argued that Star Wars has been rebooted with The Force Awakens.
It's pretty obvious what will happen. Chances are, Roland Emmerich is going to just pick and choose what made both Stargate and SG-1 great and mash them together for an epic plotline. This is exactly what J.J. Abrams did when he created Star Trek: Into Darkness.
There certainly isn't anything wrong with the premise of Stargate, with a giant ring that creates a portal to another world. The show was able to take the story to the next level in saying that the stargate is just one of many as it is revealed that the stargates are part of mass transit/network. It is essentially Star Trek without any big starship, and it could be done on both a big and small budget.
As far as when this Stargate reboot is happening, it is probably going to be later than sooner. Roland Emmerich's imdb page has Independence Day 3 on it. If Independence Day: Resurgence is a hit, there will probably more demand for a third in the series rather than a Stargate reboot.