Content Writer: Janice Chew • Thursday, 26/09/2026 - 18:01:21 - PM
Bally’s Corporation has secured US$560 million in new financing to move forward with its major integrated resort project in the Bronx, New York.
The financing is being led by WhiteHawk Capital Partners and will mainly support pre-construction work for the Bally’s Bronx development, while some of the money can also be used for general corporate purposes.
How the US$560 Million Financing Works
The package consists of US$400 million in term loan commitments, plus another US$160 million in delayed-draw commitments that can be accessed later.
According to Bally’s, the financing is expected to close in the third quarter of 2026, subject to regulatory approval and other customary conditions.
Bally’s Chairman Soo Kim said the funding will allow the company to continue its pre-construction planning while preparing to complete the rest of the capital raise needed for the project.
Importantly, this US$560 million is not the full financing for the resort. Bally’s SEC filing shows that the loans mature 18 months after initial funding, suggesting they are more of a bridge to keep the project moving while longer-term funding is arranged.
A US$4 Billion Bronx Resort
The planned Bally’s Bronx development is expected to cost around US$4 billion and will be built at Ferry Point in the Bronx.
Plans include a large casino, a 500-room hotel, retail and entertainment spaces and a 2,000-seat event venue.
Bally’s was one of three operators awarded a full New York casino licence in late 2025, alongside Resorts World New York City and the Hard Rock-led Metropolitan Park project.
The company has already committed substantial capital to New York, including a US$500 million casino licence payment, land acquisition and other pre-construction expenses.
WhiteHawk’s Connection to The Star
There is also an interesting Australian connection behind the latest deal.
WhiteHawk is the same private credit firm that provided US$390 million in refinancing to The Star Entertainment Group earlier this year. That deal refinanced Star’s existing debt and provided additional liquidity as the Australian casino operator worked through its financial turnaround.
Bally’s itself became a major shareholder in The Star following its investment in the Australian company. As of late 2025, Bally’s held around 38% of The Star, while Investment Holdings held approximately 23%.
WhiteHawk has therefore become an important financing partner around two major gaming businesses with close ties to Bally’s.
Insight
The US$560 million deal gives Bally’s something valuable right now: time and financial flexibility.
But it should not be mistaken for the finish line. Bally’s still needs to raise significantly more capital to build its US$4 billion Bronx resort, while simultaneously managing other major developments, including Bally’s Chicago.
The bigger story will be whether Bally’s can turn this short-term financing into a much larger, sustainable funding package. For now, the WhiteHawk deal keeps the Bronx project moving — and shows just how much capital will be required as New York enters a new era of full-scale casino resorts.