Everton FC has teamed up with a US-based casino group to help fund a proposed new stadium.
But one of the club's directors Paul Gregg said the Las Vegas-based Sands Casino Group was waiting to see the government's new gambling laws passed.
The government's Gambling bill was published on 25 January.
Mr Gregg said the revenue generated from a bigger stadium would help Everton compete financially with the bigger clubs in Europe.
Mr Gregg said the team's success on the pitch this season posed new challenges.
"The club are enjoying fantastic success on the field - David Moyes has done a fantastic job.
"But the problem if you get into Europe is we will never compete at that level unless because the financial gap is bigger.
"Without extra capacity, without 20,000 extra people we are going to struggle."