* The Chicago Tribune…

Days after pausing construction on nearly all non-gaming amenities at its $1.7 billion casino complex going up in River West, Bally’s Corp. issued a going concern warning related to liquidity issues.

The warning, part of Bally’s second-quarter earnings filing Friday with the Securities and Exchange Commission, states that the Rhode Island-based company is pursuing “a number of financing alternatives intended to enhance its liquidity” by early next year to stay in compliance with lenders for its revolving credit facility.

Bally’s is looking to raise cash through asset sales, an equity offering or debt financing, according to the SEC filing.

“While the company is actively engaged in discussions on several financing alternatives, the conditions and events raise substantial doubt about the company’s ability to continue as a going concern,” Bally’s stated in the filing.

* Crain’s…

The disclosure does not appear to put the Chicago casino’s construction financing immediately at risk: Bally’s has a separate agreement with casino real estate investment trust Gaming & Leisure Properties to provide up to $940 million toward construction of the River West complex taking shape along the Chicago River. But the warning underscores the financial pressures Bally’s faces while trying to finish the project and sparring with the city over video gambling.

A Bally’s spokeswoman downplayed any impact from the financial woes on the Chicago project, issuing a statement that the disclosure was “based on a forward-looking technical accounting analysis.” […]

Core to the company’s financial issues is a $4 billion casino resort Bally’s has planned in the Bronx neighborhood of New York City.

Bally’s executed a term sheet last month for a loan that would help fund development of that project, along with proceeds for other purposes. But that term sheet remains non-binding and “there can be no assurance that the plans will be successfully implemented,” it said in the filing.

* More from Fox Chicago…

The company’s Casinos & Resorts segment generated $401 million in revenue, up 2% year over year. Bally’s said the temporary Chicago casino was among the properties contributing to the growth. But the company still reported a $163.98 million net loss, with $146.1 million attributable to Bally’s for the quarter.

For the first six months of 2026, Bally’s reported a net loss of roughly $308 million. The company’s financial position remains a major concern. Bally’s had about $4.5 billion in debt as of June 30 and reported roughly $265.9 million in negative operating cash flow during the first six months of the year.

* More…

* Investing | Why is Bally’s stock plunging today?: Investing.com — Shares of Bally’s stock plunged nearly 28.9% in mid-day trading today after the Providence, Rhode Island-based casino operator disclosed a going-concern risk in its second-quarter 10-Q filing, filed with the SEC after Friday’s market close. The company warned of “substantial doubt” about its ability to continue as a going concern, stating it does not project it would satisfy the liquidity maintenance requirement under its revolving credit facility or the consolidated net leverage ratio covenant once reinstated — based on current forecasts and excluding additional financing.

* Sun-Times | Bally’s to stop work on some amenities at permanent Chicago casino development amid video gambling dispute:
The $1.7 billion casino project has encountered financial and logistical challenges since Bally’s was selected to build Chicago’s casino in 2022, including an $800 million “funding gap,” changes to its hotel plans and delays that pushed the permanent casino’s expected opening into 2027. Bally’s said Sunday the company intends to fully honor its commitments under the host agreement.

* Tribune | Bally’s Chicago pauses construction on hotel, other amenities over video gambling dispute with city: The reset notice, issued Saturday to the Chicago Community Builders Collective, a general contracting partnership overseeing the project, essentially puts everything from a towering hotel and events center to a number of planned restaurants on hold. The decision also puts 1,500 union workers on hiatus, as much of the construction grounds to a halt, Bally’s said. The casino itself remains on target for an early 2027 opening, but the larger entertainment complex is in temporary limbo, pending resolution of the VGT dispute.

* Chicago Business Journal | Bally’s responds to Council’s demand to restart casino complex construction: In response, Bally’s said it would be open to the discussion in a statement submitted to the Chicago Business Journal. “Bally’s appreciates the invitation from members of the City Council and will engage in open, honest, and collaborative conversation about the risks to the city’s finances, police and fire pension funds, union jobs, and public safety because of the legalization of video gambling terminals (VGTs),” a Bally’s spokesperson said. “Bally’s continues to construct the gaming floor and other components and has not removed any portion of the planned full scale integrated resort and casino, which remains on schedule to open in 2027.”