Bally’s Corporation has obtained a substantial loan of nearly $560 million from WhiteHawk Capital Partners, aimed to support the pre-construction phase of its $4 billion casino resort in the Bronx. The financing package includes a $400 million term loan, which will be accessible upon closing, and an additional $160 million offered with a deferred draw option.
This significant funding will facilitate pre-construction activities, with some of the capital available for general corporate needs. Bally’s anticipates finalizing this deal in the third quarter of 2026.
Soo Kim, the Chairman of the Board at Bally’s, emphasized the importance of this financing, stating, "This important financing allows us to progress the pre-construction planning process so that we are ready to complete the remainder of the capital raise and remain on schedule."
The casino project received one of New York's three downstate casino licenses in December 2025 and will be situated at Bally’s Golf Links at Ferry Point Park in the Bronx. The overall cost for the Bronx casino is projected to be around $4 billion, which includes a $500 million licensing fee, with plans to open the facility in 2030.
In August, Bally’s disclosed that it had signed a non-binding term sheet to secure a pre-construction loan. Additionally, the company is in the process of constructing a $1.7 billion permanent casino in Chicago, expected to debut in early 2027. The financing from WhiteHawk strengthens Bally’s liquidity, crucial for advancing the Bronx project, but the company still faces the challenge of raising the remaining $4 billion needed for completion, while also managing other financial and development obligations.
