The Ho-Chunk Nation of Wisconsin has officially secured $610 million in financing to move forward with construction of its long-anticipated Beloit casino resort — a project expected to reshape the region’s entertainment and tourism landscape.

The financing package, finalized on September 26, 2025, consists of two $305 million components: a revolving credit facility and a delayed-draw term loan, according to Tribal Business News. The deal was led by KeyBanc Capital Markets, which acted as the left lead arranger, joint bookrunner, and administrative agent. The tribe also contributed approximately $95 million in equity, bringing the total project cost to roughly $705 million.

According to the Ho-Chunk Nation Legislature, which authorized the financing, the funds will cover both construction expenses and associated project costs. Oversight of the casino’s development and operations will fall under the Nation’s Department of Business, which manages the tribe’s gaming enterprises statewide.

The forthcoming Beloit resort marks a major milestone in the tribe’s continued expansion of its Ho-Chunk Gaming Wisconsin brand.

The Ho-Chunk Nation is a sovereign Tribal nation which currently has 7,766 members. The Nation is headquartered in Black River Falls, Wisconsin, and it already owns and operates no less than six gaming facilities under its brand.

Expanding the Ho-Chunk Gaming Footprint

Construction for the project officially began in October 2024 following years of planning, regulatory review, and negotiations. The tribe broke ground in a ceremonial event after completing its compact agreement with the State of Wisconsin earlier that year. Ryan Greendeer, executive government relations officer for the Ho-Chunk Nation, confirmed that the compact was the final step needed before construction could begin.

When complete, the Beloit property will feature more than 1,500 slot machines, 40 table games, and a sports betting area — all part of a large gaming floor designed to attract both local patrons and tourists. The project will also include a 312-room hotel, a 2,000-seat convention and entertainment center, multiple restaurants and bars, and ample parking facilities.

Collin Price, the Nation’s Tribal Relations Manager, described the project’s ambitious scale, noting, “The final program, that we’re excited about, breaking ground this fall includes a 300-key hotel. We’ve got a large gaming floor that consists of slot machines, table games, and multiple food and beverage outlets within that. We’ve also got a convention center that is going to be multi-use. So we’re looking to bring concerts, you know, performances. We can also have expos, conventions, small meetings.”

Community Impact and Economic Promise

The new casino resort is expected to deliver significant economic benefits to both the Ho-Chunk Nation and the City of Beloit. The project will create an estimated 3,000 construction jobs and approximately 1,500 permanent positions once the resort opens, offering employment opportunities for both tribal members and local residents.

Beloit City Manager Jerry Gabrielatos emphasized the wider potential impact, stating, “With this asset that’s coming to the city, it makes us more attractive for additional development, seeing more shovels go in the ground, not just near the expressway, but throughout the city.”

In addition to job creation, the development has spurred infrastructure improvements in the surrounding area. Beloit has secured $13 million in federal funding to enhance nearby roads, traffic systems, and pedestrian access. The improvements will include expanded bike lanes, new traffic lights, and upgraded roadways to accommodate increased visitor traffic.

Competitive Market and Regional Growth

The Beloit casino will open its doors in September 2026, followed by the hotel and convention center a year later. Once operational, it will join a competitive regional gaming landscape that includes Rockford’s Hard Rock Casino, which opened in 2024. Despite the competition, Ho-Chunk officials view this as an opportunity rather than a challenge.

Price noted, “In terms of the gaming market we see our competitors elevating their game, which is how it should be. Everyone’s offering a unique product and that’s what we’re trying to do here. We can all offer something really special for the guests to pick and choose what they want.”

Local tourism leaders share that optimism. Celestino Ruffini, CEO of Visit Beloit, expressed confidence that the city will become a stronger regional destination once the casino opens, helping attract more visitors to southern Wisconsin and boosting local hospitality and retail sectors.