Bally’s Corporation has successfully obtained a loan nearing $560 million from WhiteHawk Capital Partners to facilitate the pre-construction phase of their ambitious Bronx casino resort project, which is estimated to cost around $4 billion. The financing package consists of a $400 million term loan available immediately upon closing and an additional $160 million that includes a deferred draw option. The company anticipates finalizing the agreement in the third quarter of 2026.
Soo Kim, Chairman of the Board at Bally’s, emphasized the significance of this funding by 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."
In December 2025, Bally’s was awarded one of the three downstate casino licenses in New York. They are set to develop the casino at Bally’s Golf Links located at Ferry Point Park in the Bronx. The overall project budget includes a $500 million licensing fee, with plans for the resort to open by 2030.
Earlier in August, Bally’s had announced the signing of a non-binding term sheet for this pre-construction loan. In addition to the Bronx project, the company is also in the process of constructing a $1.7 billion permanent casino in Chicago, slated for an early 2027 opening. While the financing from WhiteHawk enhances Bally’s liquidity for the Bronx project, the company must still secure the remaining capital needed for the project alongside fulfilling its wider financing and development obligations.
