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- Bally’s Corporation has officially closed a $560 million early-stage financing package—led by WhiteHawk Capital Partners—to fund the planning and pre-construction phases of its proposed $4 billion casino resort at Ferry Point in the Bronx.
- While the initial injection of capital keeps the 3 million-square-foot Ferry Point proposal highly competitive in the race for a downstate New York casino license, Bally’s will still need to secure massive additional funding to complete the build. The corporate debt hurdle remains a key focal point for industry watchers, especially as the operator juggles this targeted 2030 Bronx opening alongside its ongoing $1.7 billion permanent casino development in Chicago.
Bally’s Corporation has closed a $560 million financing package for its proposed Bronx casino resort, securing early-stage development capital for the roughly $4 billion project at Ferry Point.
The deal matters because it gives Bally’s money to advance planning and pre-construction work on one of the highest-profile downstate New York casino projects. It also underscores that the company still needs substantially more capital before the resort can be fully built.
According to the source report, WhiteHawk Capital Partners led the financing. Bally’s received $400 million in term loans at closing and has access to another $160 million through delayed-draw commitments.
The proceeds are intended mainly for development costs tied to the Bronx project, including planning and other early-stage expenses. Bally’s has said the resort would span about 3 million square feet and include roughly 3,500 slot machines, more than 200 table games and poker positions, a 500-room hotel, an event center for about 2,000 people, restaurants, retail, entertainment space, an 18-hole golf course, and parking.
Financing moves the project forward, but only partway
The new funding covers only a portion of the expected cost. Bally’s will still need additional financing to complete the development.
That remains a key point for investors and industry watchers because Bally’s said in an SEC filing earlier in 2026 that there was “substantial doubt” about its ability to “continue as a going concern.” The company also said it was “pursuing a number of financing alternatives to enhance its liquidity, including asset monetization, an equity sale, and debt financings.”
The source report said Bally’s debt has been estimated at roughly $4 billion to more than $4.5 billion. Bally’s is also developing a casino project in Chicago, which the report pegged at about $1.7 billion.
Bronx approvals and timeline remain key next steps
The Bronx resort is planned for the site where Bally’s operates Bally’s Golf Links. Bally’s took over the Ferry Point golf course lease in 2023 and later bought related parkland from New York City for about $156.6 million.
The project has already faced local approval friction. In 2025, the New York City Council rejected approvals tied to the development before Mayor Eric Adams overturned that decision, according to the source report—navigating regulatory hurdles that highlight how complex downstate resort developments and adjacent digital verticals like online casino expansions require extensive political and municipal alignment..
Bally’s has said construction could support around 15,000 jobs, with the completed resort employing about 3,500 to 4,000 people. The company continues to target 2030 for the Bronx opening, but further permitting and construction stages still remain.
The project is one of the closely watched competitors in New York’s downstate casino race, alongside other major bids including Metropolitan Park and Resorts World New York City.
Source: As reported by news.worldcasinodirectory.com.
