Bally's Secures $560 Million Loan for Bronx Casino Project

Bally's Corporation secured $560 million in financing from WhiteHawk Capital Partners to advance a $4 billion casino and entertainment complex in the Bronx, New York. The funding package consists of $400 million in immediate term loan commitments and $160 million in delayed draw term loans. The deal is expected to close by the third quarter of 2026, pending regulatory approval from the New York Gaming Facility Location Board.

The capital is primarily earmarked for pre-construction activities at the former Trump Golf Links at Ferry Point site, though some funds will support general corporate initiatives. This financing follows a period of financial instability; in August, the company filed with the Securities and Exchange Commission expressing substantial doubt regarding its ability to continue as a going concern due to a liquidity crunch, a period that also saw the resignation of its chief financial officer.

While the loan does not cover the total cost of the Bronx development, Chairman Soo Kim stated the liquidity allows the company to maintain project deadlines while pursuing further fundraising. Kim also dismissed reports of stalled construction at the company's separate $1.7 billion integrated resort project in Chicago, asserting that the company is meeting its capital commitments there and remains on schedule for an early 2027 opening.