Bally’s Corporation has completed a $560 million financing package for its proposed casino resort in the Bronx, giving the company fresh capital for pre-construction work on the roughly $4 billion development.

WhiteHawk Capital Partners led the financing. Bally’s received $400 million in term loans at closing, while another $160 million will be available through delayed-draw commitments.

The company plans to use the proceeds mainly for development costs tied to the Bronx project, including planning and other early-stage expenses. Some of the money may also cover general corporate purposes and transaction-related costs.

Citizens Capital Markets & Advisory acted as Bally’s financial adviser, while Fried, Frank, Harris, Shriver & Jacobson LLP served as legal adviser.

The financing follows Bally’s receipt of one of three downstate New York casino licences. The other selected projects are Metropolitan Park in Queens and the Resorts World New York City expansion at Aqueduct.

Ferry Point Plans Call for Large Integrated Resort

Bally’s plans to build the resort at Ferry Point in the southeast Bronx, where it operates Bally’s Golf Links.

The development is expected to span about 3 million square feet and include roughly 3,500 slot machines, more than 200 table games and poker.

Plans also call for a 500-room hotel and an event center with capacity for about 2,000 people. Restaurants, retail space and other entertainment facilities would form part of the project, alongside an 18-hole golf course and extensive parking.

Bally’s took over the Ferry Point golf course lease in 2023 and later acquired related parkland from New York City for approximately $156.6 million.

The project previously faced uncertainty over land-use approvals. In 2025, the New York City Council rejected approvals needed for the development, before Mayor Eric Adams overturned that decision and kept the proposal alive.

Bally’s has estimated that construction could support around 15,000 jobs, while the completed resort could employ between 3,500 and 4,000 people.

Further Capital Will Still Be Needed

The new financing covers only part of the expected cost of the project, meaning Bally’s will need to secure additional funding before construction is completed.

The company has also acknowledged pressure on its balance sheet. In a U.S. Securities and Exchange Commission filing earlier in 2026, Bally’s said there was “substantial doubt” about its ability to “continue as a going concern.”

Bally’s has said it is “pursuing a number of financing alternatives to enhance its liquidity, including asset monetization, an equity sale, and debt financings.”

Its debt has been reported at roughly $4 billion to more than $4.5 billion.

The company is also developing casino projects in other U.S. markets. In Chicago, Bally’s has slowed work on some non-gaming elements of its $1.7 billion resort while continuing to target a spring 2027 opening.

The operator has also objected to the city’s expansion of video gambling terminals in bars and restaurants, arguing that wider VGT availability could affect the economics of the Chicago property.

As reported by Deadspin, Bally’s continues to target 2030 for the opening of the Bronx resort.

The company has filed permits for parts of the development, while the newly completed financing gives it capital to advance work before full construction begins.

The project remains dependent on further financing and completion of the remaining permitting and construction stages.

If completed as planned, the resort would become one of the largest private developments in the Bronx and a major addition to New York City’s downstate casino market.