Bally’s Secures $560 Million to Advance Bronx Casino Project
United States.- 16 September 2026 | www.zonadeazar.com Bally’s Corporation has secured a new $560 million financing package to advance the development of Bally’s Bronx, its planned integrated casino resort in New York.
The financing is led by WhiteHawk Capital Partners and is primarily intended to fund pre-construction expenditure while Bally’s continues to assemble the remaining capital required for the approximately $4 billion development.
The transaction represents an important step for one of the largest private developments planned in the Bronx.
$400 Million Available at Closing
The new financing includes $400 million of closing-date term loan commitments.
This represents the principal immediately available component of the agreed facilities.
Additional $160 Million Delayed Draw
A further $160 million of delayed-draw term loan commitments forms part of the structure.
Together, the two facilities total $560 million.
WhiteHawk Leads the Financing
WhiteHawk Capital Partners is leading the transaction and will act as agent for the lenders.
Managing Partner Bob Louzan said the financing reflects WhiteHawk’s ability to create flexible capital solutions for complex transactions.
Funding Pre-Construction
Bally’s intends to use the majority of the proceeds for costs and expenditure associated with the pre-construction phase of Bally’s Bronx.
A portion of the financing will also remain available for general corporate purposes.
Closing Remains Conditional
The facilities are expected to close during the third quarter of 2026.
Initial funding remains subject to:
- Regulatory approval.
- Satisfaction of contractual conditions.
- Other customary closing requirements.
The $560 million therefore represents committed financing rather than funds already fully drawn.
18-Month Maturity
According to Bally’s SEC filing, the loans will mature 18 months after initial funding.
They will bear interest at Term SOFR plus 8.50% per annum, subject to the customary floor set out in the agreement.
The structure is designed to support a defined development phase while Bally’s completes its longer-term capital plan.
Soo Kim Targets Development Schedule
Bally’s Chairman Soo Kim said the financing enables the company to progress pre-construction planning while preparing to complete the remainder of the capital raise.
Bally’s intends to remain on schedule while using the additional liquidity to provide greater flexibility across its broader capital programme.
Approximately $4 Billion Development
Bally’s Bronx represents an approximately $4 billion investment.
The company has described the development as the largest private investment in the history of the Bronx.
The resort is planned around the Bally’s Golf Links site at Ferry Point.
Integrated Resort Proposition
The development is expected to combine:
- A full-scale casino.
- Restaurants.
- Entertainment.
- Retail.
- Community-focused facilities.
- Sportsbook elements and integration with Bally Bet.
The strategy connects Bally’s land-based and digital operations in New York.
Commercial Casino Licence Already Awarded
Bally’s passed a crucial milestone in December 2025 when it received one of New York’s three downstate commercial casino licences.
The licence included a $500 million licence fee, which Bally’s paid during the first quarter of 2026.
The company is also required to post cash or a bond representing 5% of its total committed project investment.
Community Commitments
The licence incorporates commitments made during the community evaluation process.
Bally’s must provide ongoing reporting covering areas such as:
- Employment.
- Workforce diversity.
- Community investment.
- Budgets.
- Construction progress.
- Delivery of local commitments.
Its proposal also includes a $10 million annual Community Benefits Fund supporting Bronx initiatives.
Independent Monitoring
New York regulators have required enhanced oversight of the project.
Bally’s has an independent monitoring team approved by the New York State Gaming Commission covering regulatory compliance, financial obligations, AML and community commitments.
Remaining Capital Still Required
The $560 million package does not fully finance the Bronx development.
Regulatory filings contemplate a broader mix potentially including:
- Debt.
- Bally’s equity.
- Third-party equity.
- Sale-and-leaseback structures.
- Additional financing sources.
Completing that wider capital plan remains a major project milestone.
Financing Capacity Under Scrutiny
Bally’s leverage and the scale of its wider development programme have made financing a closely watched part of the Bronx proposal.
The Gaming Facility Location Board acknowledged those risks during its review but concluded Bally’s had credible access to multiple funding sources.
The WhiteHawk commitment now represents a tangible step towards that plan.
New York’s Strategic Value
The project’s ability to attract capital is also connected with the uniqueness of the New York opportunity.
Downstate casino licences provide access to one of the world’s largest metropolitan consumer markets.
The limited number of licences gives the selected developments significant strategic value.
Industry Context
Bally’s is undertaking a substantial investment programme across several major assets.
The group continues to develop Bally’s Bronx and Bally’s Chicago while managing a broader international gaming portfolio and a complex capital structure.
Against that backdrop, dedicated Bronx financing reduces part of the uncertainty surrounding the early development phase, although the final capital structure remains a key issue to monitor.
Next Steps and Impact
Bally’s expects the new facilities to close during the third quarter of 2026, subject to regulatory approval and customary conditions.
The $400 million closing-date commitment and $160 million delayed-draw facility will support pre-construction activity while Bally’s completes the remaining financing.
For Bally’s Bronx, the transaction marks a further transition from licensing and planning towards financial execution.
The next major challenge will be completing the funding structure for a project approaching $4 billion, satisfying New York’s regulatory and community requirements and turning the licence secured in 2025 into one of the largest integrated resorts in the US market.
Editó: @fonta
