Bally’s Closes $400 Million Financing for $4 Billion Bronx Casino
United States.- 6 October 2026 | www.zonadeazar.com Bally’s Corporation has closed a financing package led by WhiteHawk Capital Partners and received initial term loans with an aggregate principal amount of $400 million to advance development of Bally’s Bronx, its planned $4 billion integrated resort in New York.
The project has already secured one of New York State’s downstate casino licences and is targeting an opening in 2030.
$400 Million in Initial Financing
The initial term loans total $400 million.
Bally’s will use the proceeds primarily for pre-construction costs and other expenditures connected with development of the Bronx project.
A portion may also be used for general corporate purposes, including transaction fees and expenses related to the financing.
Additional $160 Million Available
The package also includes $160 million in delayed-draw term loan commitments.
Bally’s will be able to access those funds through future draws as development progresses.
The overall financing structure therefore provides access to as much as $560 million.
$4 Billion Development
Bally’s Bronx represents one of the largest private developments planned for the borough.
Plans call for approximately 3 million square feet of facilities including:
- A casino.
- A 500-room hotel.
- A 2,000-person event centre.
- An 18-hole golf course.
Ferry Point Site
The resort will be developed at Bally’s Golf Links at Ferry Point.
The project will cover approximately 16 acres currently occupied by parking lots and practice areas associated with the golf course.
Bally’s plans to transform the former landfill site into a major entertainment destination for the Bronx.
New York Casino Licence
Bally’s secured one of the three downstate casino licences awarded by New York State.
The other licences went to Metropolitan Park in Queens and Resorts World New York City.
Receiving the licence allowed Bally’s to move into the next stages of financing and project development.
2030 Opening Target
The company is targeting 2030 for completion and opening of the integrated resort.
The development timetable includes several years of construction and implementation before operations begin.
Transaction Advisers
Citizens Capital Markets & Advisory acted as Bally’s financial adviser on the transaction.
Fried, Frank, Harris, Shriver & Jacobson LLP served as legal adviser.
Multiple Development Commitments
The financing comes as Bally’s pursues several major projects across the United States.
Alongside the Bronx development, the company is working on a permanent casino in Chicago and continues to hold development plans for Las Vegas.
Financial Pressure
Bally’s is also operating under significant balance-sheet pressure.
In filings with the Securities and Exchange Commission, the company previously raised concerns around debt levels and liquidity.
Bally’s has said it continues to pursue financing alternatives including asset monetisation, equity sales and additional debt financing.
Industry Context
New York is moving ahead with one of the largest recent expansions of the US land-based casino market.
The new downstate licences will enable large-scale integrated resorts to be developed in densely populated and high-traffic areas around New York City.
Next Steps or Impact
Closing the financing gives Bally’s additional resources to cover a significant portion of the early costs associated with Bally’s Bronx.
Attention will now shift towards construction activity, future capital draws and execution against the 2030 timetable.
The project will also serve as an important test of Bally’s ability to deliver multiple major developments while managing its wider liquidity and debt obligations.
Editó: @fonta
