“Bad Santa 2” is the kind of sequel I thought it would be; one which repeats the story of the original. Granted, many sequels are like this, and some get away with it like “Beverly Hills Cop II,” “The Hangover Part II” and John Carpenter’s “Escape from L.A.” Clearly, this is a movie made for fans of 2003 original which has long since become a holiday and cult classic, and this sequel does contain a number of gut-busting laughs as the world’s worst mall Santa Claus ever, Willie Soke, gets himself involved in another heist. But in its second half, “Bad Santa 2” loses much of the energy it built up and begins to run on fumes as scenes quickly remind us of the original and how great it was.

It’s been 13 years since “Bad Santa” was unleashed in theaters everywhere, and the holdup was the result of Miramax being sold among other things. Billy Bob Thornton was eager to get a sequel off the ground, but because of various rights issues, it seemed impossible to start production on one for years. While it is a relief to see this sequel finally arrive at your local cinema, it’s being released at a time where a major Presidential candidate bragged on audio about grabbing women by “the pussy.” As a result, it’s hard to watch “Bad Santa 2” without thinking about that, so the bad timing of its release is unfortunate.

So, what has Willie been up to for 13 years? Well, he’s still the same old cynical lout whose heart is smaller than the Grinch’s, and he still drinks himself silly at any given opportunity. Sue (Lauren Graham from the original) has long since left him as Willie is incapable of hanging onto any nurturing relationships, but he still gets regular visits from Thurman “the kid” Merman (Brett Kelly) who still acts like an 8-year-old even at the age of 21. Willie is prepared to put himself out of his misery, but he is much better at cracking safes than at attempting suicide. One thing’s for sure, he’s got one hell of a liver.

Despite having tried to kill Willie previously, Marcus Skidmore (Tony Cox) still manages to convince him to pull off another heist which will be their biggest yet. Marcus wants to rip off a Chicago charity which is said to have $2 million dollars, but Willie is against robbing a charity because, you know, they never have that much money. But Willie’s in for a big surprise as he discovers Marcus has brought on another partner for this caper, his mother Sunny (Kathy Bates). The fact Willie is quick to punch her right in the face as soon as he recognizes her should give you a good idea of just how dysfunctional the mother/son relationship is between these two.

Thornton hasn’t lost a step since first playing Willie back in 2003, and he still knows how to give a deplorable character like this one a complexity other actors couldn’t. The actor can still land a joke like the best can, and just when you think Willie can’t reach an even deeper bottom than he already has, he does. But as irredeemable as Willie seems, Thornton still gives us a reason to root for him even as he is about to sin again.

“Bad Santa 2,” however, scores a real casting coup with the addition of Kathy Bates who shows no fear in making Sunny every bit as cynical as Willie. She relishes playing an unrepentant biker chick who throws caution to the wind just as one would flick away a cigarette to the ground, and she’s the kind of actress who’s game for just about anything and everything.

It’s also great to see Tony Cox back as Marcus, and that’s even though the logistics of Marcus working again with Willie are beyond belief. Then again, you don’t bring logic into a sequel like this. While Lauren Graham is missed, it’s crazy fun to watch “Mad Men’s” Christina Hendricks let it loose as a reformed alcoholic who still feels the need to be bad when the opportunity presents itself. As for Brett Kelly, he still gives this sequel the heart it needs as man-child Thurman Merman. You would think Thurman would have long since outgrown his attachment to Santa, but again, this is not the kind of sequel you bring logic to.

But as “Bad Santa 2” heads into its second act, the laughs begin to die down as our familiarity with original sinks in to where what was once fresh now feels sadly stale. We are introduced to Regent Hastings (Ryan Hansen) who heads the charity and is Christina’s husband who cheats on her and indulges in a foot fetish which is best left to the imagination, and there’s also the security officer who is on the verge of uncovering Willie’s true identity. They eventually bring to mind the characters John Ritter and Bernie Mac played in “Bad Santa,” but these characters are nothing more than mere caricatures supplied for the audience to despise right from the start. The characters Ritter and Mac portrayed were not clichéd ones, and each actor inhabited them with a comic brilliance not easily duplicated. The both of them are very much missed this time around.

Directing “Bad Santa 2” is Mark Waters who gave us “The House of Yes,” the “Freaky Friday” remake and the infinitely enjoyable “Mean Girls” which made a star out of Lindsay Lohan and gave Tina Fey a life outside of SNL. With this sequel, he feels obligated to stay within the original’s formula as straying from it wouldn’t have worked. Waters succeeds in keeping the comic pace of the movie up, and he generates some big laughs which left me in hysterics. However, he can’t keep it from losing steam as we become more aware of where things are heading as this sequel heads to its inevitable climax which is not as inspired as it wants to be.

For me, “Bad Santa 2” is a near miss. Some sequels are mere replications of the original, and this drives most critics up the wall. I can be a bit forgiving as I’m willing to accept this to a certain extent if the sequel proves to be entertaining, but even I have my limits. “Bad Santa 2” succeeds in its first half, but its second half shows its filmmakers running out of steam long before they crossed the finish line. It’s a shame because the original is one of my favorite movies to watch during the holidays, but this one comes up short. It definitely has its devilishly inspired moments, but it could have used more of them.

* * ½ out of * * * *