Bally's closes $400M financing for Bronx casino development

Bally's Corporation (NYSE: BALY) has closed a financing deal led by WhiteHawk Capital Partners, LP, receiving an initial $400 million in term loans to support the development of its Bronx, New York casino project.

According to a press release, the proceeds will be used to cover pre-construction costs and expenditures related to the Bally's Bronx project, with a portion allocated to general corporate purposes, including transaction fees and expenses incurred at closing.

An additional $160 million in delayed draw term loan commitments remains available for future draws to support continued development of the project.

The Bally's Bronx project is described as a $4.0 billion integrated casino development expected to open by 2030. Plans include 3 million square feet of gaming facilities, a 500-room hotel, a 2,000-person event center, and an 18-hole golf course.

Citizens Capital Markets & Advisory served as financial advisor to Bally's, while Fried, Frank, Harris, Shriver & Jacobson LLP served as legal advisor.

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