With each passing month, the planned Bally’s Chicago casino seems less like the promised sure thing that will generate enough revenue to help solve the city’s pension crisis, and more like a potential bust.

Last week, Bally’s bosses said the gaming company is searching for $800 million to fund construction of the casino, planned for the Chicago Tribune’s Freedom Center site at Chicago Avenue and Halsted Street.

Bally’s officials said they are hopeful they can find a lender for the cash by summer. But they better get cracking: Demolition has yet to begin on the 30-acre Tribune property, and by state law, the $1.3 billion permanent casino has to be built and open by September 2026.