Bally’s secures $560M loan for Bronx casino project

Bally’s Corporation has secured $560 million in financing to support its planned $4 billion casino and entertainment complex in the Bronx, New York. The funding, led by WhiteHawk Capital Partners, consists of $400 million in closing date term loan commitments and $160 million in delayed draw term loan commitments.

The proceeds are intended to fund pre-construction work and general corporate purposes. The company expects the financing to close in the third quarter of 2026, pending regulatory approval and other customary conditions. The loans will mature 18 months after their initial funding and will carry an interest rate of Term SOFR plus 8.50%.

This liquidity injection follows previous concerns regarding the company’s financial stability. Chairman of the board Soo Kim stated that the financing allows the company to progress with pre-construction planning and provides greater flexibility for other capital opportunities. The project is situated on a 16-acre parcel at 450 Hutchinson River Parkway, which Bally’s acquired after buying out the Trump Organization’s lease of the space.