Bally’s warns of going-concern risk as Chicago project slows, seeks financing
Bally’s Corporation disclosed a going-concern warning in its Q2 filing, saying substantial doubt exists about its ability to continue due to liquidity issues and that it’s pursuing financing options—asset sales, an equity offering, or debt financing—to bolster liquidity ahead of next year’s covenants. Bally’s Chicago’s $1.7 billion development remains fully financed, with a pause on non-gaming amenities tied to a dispute over video gambling terminals, not the liquidity issue. The slowdown has idled about 200 of 1,500 workers and has spurred aldermen to seek a public hearing; Bally’s contends the VGT issue is separate from its financing plans.
