Entertainment <\/p>\n
The quick-growing global entertainment brand that owns 20 casinos in the US and one casino in Newcastle, UK, Bally\u2019s Corporation<\/a> has secured $560 million <\/strong>in new financing.\u00a0<\/p>\n The company will use the money to support further development of its planned Bronx project in New York<\/a>, allowing it to move ahead with pre-construction work.<\/p>\n The financing, led by WhiteHawk Capital Partners<\/strong>, includes $400 million in term loan commitments available at closing and another $160 million in delayed draw term loan commitments.\u00a0<\/p>\n The deal is expected to close in the third quarter of 2026, subject to regulatory approval and other customary closing conditions.<\/p>\n Bally\u2019s said the money will primarily be used for pre-construction costs and other expenses connected with the Bronx development<\/a>.\u00a0<\/p>\n Part of it will also be available for general corporate purposes, allowing the company to benefit from boosted flexibility while working through its broader capital plans.<\/p>\n For Bally\u2019s, which also owns Bally Bet<\/a>, a first-in-class sports betting and iGaming platform licensed in 16 jurisdictions in North America, the fresh financing is an important step in keeping work on the Bronx project moving while the company prepares to complete the rest of its planned capital raise.<\/p>\n \u201cThis important financing allows us to progress the pre-construction planning process so that we are ready to complete the remainder of the capital raise and remain on schedule,\u201d Bally\u2019s Chairman Soo Kim<\/strong> said.\u00a0<\/p>\n Kim added that the additional liquidity gives the company greater flexibility for other capital opportunities.<\/p>\n The deal comes just a few weeks after the gaming company warned the SEC about \u201csubstantial doubt\u201d regarding its ability to continue as a going concern.<\/p>\n Funding the Bronx casino hotel has been a key priority for Bally\u2019s, given the project\u2019s scale and its position as the company\u2019s most expensive development.\u00a0<\/p>\n Earlier financing partners had shown reluctance to fully fund the New York project, making WhiteHawk\u2019s backing particularly important as Bally\u2019s works to complete its broader capital raise.<\/p>\nBally\u2019s, On Schedule<\/h2>\n
A Breath of Fresh Air<\/h2>\n