Bally’s Corporation has closed financing led by WhiteHawk Capital Partners to support development of its planned $4 billion Bally’s Bronx integrated casino project in New York.
The financing includes $400 million of term loans funded at closing and another $160 million of delayed-draw term loan commitments that remain available for future draws.
Bally’s plans to use the initial $400 million primarily for pre-construction costs and expenditures associated with Bally’s Bronx.
A portion of the proceeds will also be available for general corporate purposes, including transaction fees and expenses related to the financing.
The $160 million delayed-draw facility is intended to support continued development of the Bronx project as construction advances.
Bally’s expects the integrated resort to open by 2030.
Plans call for approximately 3 million square feet of gaming facilities, a 500-room hotel, a 2,000-person event center and an 18-hole golf course.
The company was awarded a license to develop the full-scale casino and resort in the Bronx and is separately developing an integrated destination resort in Chicago.
WhiteHawk Capital Partners is a private credit investment manager focused on asset-based financing for middle-market public and private companies.
Support: Citizens Capital Markets & Advisory served as financial adviser to Bally’s, while Fried, Frank, Harris, Shriver & Jacobson served as legal adviser.