Bally's Secures $560M Financing for Bronx Casino Project
Bally's Corp. has secured $560 million in new financing from private credit firm WhiteHawk Capital Partners to advance its planned $4 billion casino resort in the Bronx, the company announced on September 14. The site, at the former Trump Golf Links at Ferry Point Park, is Bally's most expensive project to date and represents one of the largest casino developments currently underway in New York.
What was announced
The financing package splits into $400 million in term loans available at closing and $160 million in delayed-draw term loan commitments, with the transaction expected to close this quarter. Bally's chairman Soo Kim said the deal allows the company to "remain on schedule" and provides "greater flexibility for other capital opportunities" as pre-construction planning continues on the integrated resort.
Why it matters
The financing arrives weeks after Bally's flagged "substantial doubt" about its ability to continue as a going concern in an SEC filing, making the WhiteHawk deal a meaningful liquidity boost for the company's marquee New York project specifically, even as its broader balance sheet situation remains under scrutiny. The Bronx casino still needs to clear New York's competitive downstate licensing process, where it's competing against several other proposed sites for a limited number of licenses, but securing dedicated project financing removes one practical hurdle to keeping the timeline intact while that process plays out.