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With three bids already withdrawn, several others are on the fringes.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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Patrick Callahan, 39, a Chicago attorney who had been prevented from investing in the casino, was pleased with the settlement, but voiced a note of caution about the future of his city. The conservative legal group is now celebrating the settlement with the casino. The casino committed to 25% minority and women ownership as part of the community agreement, which was drafted as part of a 2019 Illinois state law expanding gambling in the state.

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