The 20th Century Fox film will be directed by Mark Waters.
Carrey will play a high-powered New York businessman whose life is turned upside down when he inherits six penguins. Gugino's role is unclear at this point.
Gugino has appeared on Broadway in Desire Under the Elms and After the Fall and Off-Broadway in Suddenly Last Summer. She has appeared in the television series "Entourage," "Threshold," "Karen Sisco" and "Chicago Hope," as well as the films "Race to Witch Mountain," "Righteous Kill," "American Gangster," "Night at the Museum" and the "Spy Kids" movies.
