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A film based on the classic board game Monopoly is preparing to pass go - with Margot Robbie's production company set to produce it.

The Monopoly film has been in development for more than a decade, according to the Hollywood Reporter.

But it was announced on Wednesday that Robbie's production company LuckyChap will produce it.

Hasbro Entertainment, part of the American toy company, will also be a producer.

Robbie's company most recently worked on Saltburn and last year's hit Barbie, which the Australian actress also starred in.

Speaking to Variety in February, Robbie, 33, said: "We want to make more films that have the effect that Barbie has.

"I don't know if it has to be Barbie 2. Why can't it be another big, original, bold idea where we get an amazing filmmaker, a big budget to play with, and the trust of a huge conglomerate behind them to go and really play? I want to do that."

Adam Fogelson, chairman of Lionsgate Motion Picture Group, said they were "tremendously excited" about the project and believe it could be the next blockbuster.

Zev Foreman, head of film for Hasbro Entertainment, said: "As one of the most iconic games in the world, Monopoly provides an incredible platform for storytelling opportunities."

Last December Lionsgate extended its development rights to the board game when it bought Hasbro's Entertainment One (eOne).

Barbie was the highest-grossing film last year, making $1.38bn (£1.1bn) globally.

Bestselling board game Monopoly has taught generations of children to buy up property, stack it with hotels and charge fellow players sky-high rents for the privilege of accidentally landing there.

It was patented in 1904 by a left-wing American feminist called Lizzy Magie. She called it the Landlord's Game and it evolved into what we now know as Monopoly.

However it hit the mainstream 30 years later when Monopoly was first marketed in the United States during the Great Depression. An out-of-work salesman from Pennsylvania was credited with inventing it.