Bally’s Closes $400 Million Financing for $4 Billion Bronx Integrated Resort

Bally’s Corp. has closed a financing package led by WhiteHawk Capital Partners that delivers $400 million in initial term loans for its planned casino in the Bronx, New York. The $4 billion integrated resort carries an expected opening by 2030. Proceeds will cover pre-construction costs tied to the Bally’s Bronx development along with general corporate purposes that include transaction fees and closing expenses.

The package also provides $160 million in delayed draw term loan commitments available for future draws to advance the project. Citizens Capital Markets & Advisory acted as financial advisor to Bally’s, while Fried, Frank, Harris, Shriver & Jacobson LLP served as legal advisor, according to Yogonet International.

Site Transformation and Facility Details

The resort will occupy the site of a golf course once owned by President Donald Trump. It spans 16 acres of parking lots and practice green at Bally’s Golf Links at Ferry Point, converting a former landfill into the Bronx’s largest single private development.

Plans specify 3 million square feet of gaming facilities, a 500-room hotel, a 2,000-person event center, and an 18-hole golf course.

Debt Concerns and Multi-Market Execution

The Rhode Island-based operator, which owns Bally’s Atlantic City, is advancing casino projects simultaneously in New York, Chicago, and Las Vegas. In a filing with the US Securities and Exchange Commission earlier this year, Bally’s stated it may struggle with its debt over the next year and cited “substantial doubt” about its ability to “continue as a going concern.”

Construction on the Chicago casino has slowed amid disputes with the city after approval of video gambling terminals for bars and restaurants. The company is pursuing a number of financing alternatives to enhance its liquidity, including asset monetization, an equity sale, and debt financings.

Securing this tranche buys time on the Bronx timeline, yet the accumulated commitments across three major markets leave limited margin for further delays or cost overruns. Additional draws and the identified alternatives will determine whether the full $4 billion project reaches completion as planned.

Reporting: Yogonet International

Generated by SCCG’s automated editorial system from published source reporting. SCCG Management holds editorial responsibility.