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Bally’s Corporation has secured a nearly $560 million loan from the WhiteHawk Capital Partners, which will ideally fund the pre-construction $4 billion Bronx casino resort.
The financing includes a $400 million term loan commitment (available upon closing) and an additional $160 million with a deferred draw option.
The huge amount of the loan will be used for the pre-construction with some funds available for general corporate purposes. Bally’s Corporation expects to close the deal in Q3 2026.
Soo Kim, Chairman of the Board at Bally’s, said:
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.Bally’s received one of New York’s three downstate casino licences in December 2025. The company plans to develop the resort at Bally’s Golf Links at Ferry Point Park in the Bronx.
Bronx casino project is estimated to cost approximately $4 billion, including a $500 million licence fee, with a targeted opening in 2030.
The company previously disclosed in August that it had signed a non-binding term sheet for a pre-construction loan.
Bally’s is also building a $1.7 billion permanent casino in Chicago, scheduled to open in early 2027.
The financing provided by WhiteHawk provides Bally’s with additional liquidity to execute on the Bronx project, but the company still needs to raise the remaining $4 billion in capital needed for the project while meeting its broader financing and development commitments.