Bally’s has secured US$560m in loan commitments to advance its planned $4bn casino resort in the Bronx, New York, as it continues raising the capital required for development.
The financing, led by private credit firm WhiteHawk Capital Partners, comprises $400m in loans available at closing and a further $160m that can be drawn later.
Proceeds would fund planning and other expenditure before construction, with a portion also available for general corporate purposes. Closing is expected in Q3 of 2026, subject to regulatory approval and other conditions. Bally’s did not disclose interest rates or loan maturities in the announcement.
Soo Kim, Bally’s Chairman, said the financing would advance planning “so that we are ready to complete the remainder of the capital raise and remain on schedule”.
Bally’s secured its New York gaming licence at the end of 2025 and is targeting an opening by 2030. Plans include a casino, 500-room hotel, 2,000-person events venue and an 18-hole golf course.
The company paid the $500m licence fee and a further $115m linked to its golf course concession during Q1 of 2026.
In its August results, Bally’s said it was seeking additional project debt and equity financing. It had signed a non-binding term sheet for a loan to fund work before construction in July and a letter of intent with a potential equity investor in August.
Tags: Bally’s Bronx
