Bally’s Corporation has secured up to $560 million in new financing led by WhiteHawk Capital Partners to support pre-construction work on its planned Bally’s Bronx casino and resort development and provide additional liquidity for general corporate purposes.
The financing consists of $400 million in closing-date term loan commitments and $160 million of delayed-draw term loan commitments.
Bally’s plans to use proceeds from the facilities to fund certain pre-construction costs and expenditures associated with the Bronx project, while a portion of the capital will be available for broader corporate purposes.
The financing is expected to close during the third quarter of 2026, subject to regulatory approval and other customary closing conditions.
The new capital represents another step toward development of Bally’s proposed full-scale casino and resort in the Bronx.
The company said the financing will allow it to continue pre-construction planning while preparing to complete the remainder of the capital raise required for the project.
WhiteHawk Capital Partners is a private credit investment manager specializing in asset-based financing for middle-market public and private companies.
Its financing structures include senior secured capital for acquisitions, growth, recapitalizations, refinancing, restructurings, bridge transactions and debtor-in-possession or emergence financing.
Bally’s also expects the additional liquidity to create greater flexibility for other capital opportunities across the company.
The entertainment and gaming company currently operates 20 casinos across 11 U.S. states and one casino in Newcastle, U.K., along with a New York golf course and horse racing operations.
Its casino portfolio includes approximately 17,700 slot machines, 630 table games and 3,950 hotel rooms.
Bally’s also owns Bally Bet, a sports betting and iGaming platform licensed across 16 North American jurisdictions, and holds a majority interest in Bally’s Intralot, a lottery technology and gaming operator active in 39 jurisdictions.
Beyond the Bronx development, Bally’s has rights to develop land at the former Tropicana Las Vegas site and is developing an integrated destination resort in Chicago.
Citizens Capital Markets served as Bally’s financial advisor on the new financing, while Fried, Frank, Harris, Shriver & Jacobson served as legal advisor.
KEY QUOTES:
“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.”
“Furthermore, the additional liquidity provides us greater flexibility for other capital opportunities.”
Soo Kim, Chairman of Bally’s Corporation
“This financing reflects our ability to structure flexible capital solutions for complex transactions and will support the project’s pre-construction work as Bally’s advances its broader financing plan.”
Bob Louzan, Managing Partner at WhiteHawk Capital Partners