Since Ubisoft hasn’t come out and confirmed (or denied) any of this yet, chalk this up in the rumor column. Regardless, it should be noted that a listing on Australia’s Classification website reveals “The Expendables 2 Videogame.” According to the listing (which, apparently, has since been removed), the game contains “strong violence.”
Even with the listing, for which consoles will the game be released for? What territories? Will it actually be good? When will it be released? Again, Ubisoft hasn’t confirmed, or denied, any of this, so consider all of this a big rumor, but with enough sweat, blood, tears, and AH-NOLD, this game could very much become reality.