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With three bids already withdrawn, several others are on the fringes. This includes a Coney Island bid from Thor Equities, which faces a council vote Thursday, and the Manhattan bids, which are trudging through environmental reviews. On paper, it would seem difficult for Bally’s to complete such a project even if a licence were to be awarded. The company is currently racing against the clock to construct its permanent Chicago casino by September 2026. That project, which costs significantly less ($1.7 billion), has seen multiple setbacks, including a recent work stoppage over unapproved contractors. A significant funding agreement was needed to finance the project.

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