Ballys Secures $400 Million For $4 Billion Bronx Casino

Bally’s Corporation has received $400 million in fresh term-loan funding for its $4 billion Bally’s Bronx casino resort, giving the company more capital for pre-construction work on one of three licensed New York City casino projects.

Good to Know

• WhiteHawk Capital Partners led the financing, with $400 million funded at closing.
• Bally’s can draw another $160 million under delayed term-loan commitments.
• New York awarded Bally’s Bronx a commercial casino license in December 2025.

Bronx Funding Arrives As Bally’s Manages Heavy Capital Needs

Bally’s will use the new money for pre-construction costs tied to Bally’s Bronx. Part of the $400 million can also cover corporate expenses, including transaction fees from the financing. Another $160 million remains available for later draws as work progresses.

The cash arrives while Bally’s manages several major US casino developments and tighter liquidity. In its second-quarter filing, the company said current conditions raised “substantial doubt” about its ability to “continue as a going concern.” Bally’s also said it was considering asset monetization, an equity sale and additional debt financing to improve liquidity.

Bally’s Bronx now has more certainty than during the earlier bidding stage. The New York State Gaming Commission awarded the project a casino license effective December 15, 2025. Bally’s then paid the required $500 million license fee during the first quarter of 2026.

Plans call for a resort of more than 3 million square feet at Bally’s Golf Links at Ferry Point, with a 500-room hotel, a 2,000-person event center, casino facilities and the existing 18-hole golf course. Bally’s expects an opening by 2030.

The site covers part of the former Trump Golf Links property, which Bally’s took over in 2023. Development focuses on parking, clubhouse and practice areas rather than replacing the full golf course.

Bally’s also faces a separate construction dispute in Chicago. The company slowed work on non-gaming parts of its $1.7 billion permanent casino after Chicago approved video gambling terminals in bars and restaurants. Bally’s has maintained that the permanent casino remains scheduled to open in early 2027.

Citizens Capital Markets & Advisory advised Bally’s on the Bronx financing. Fried, Frank, Harris, Shriver & Jacobson LLP served as legal adviser.

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