Bally’s secures increase in loan, taking it to $1.1 billion for NYC casino
Bally’s increased its term loan to $1.1 billion to fund its New York casino license and general corporate purposes.Summary
Bally’s Corp has secured an increase in its term loan to $1.1 billion, comprising a $600 million initial loan and a $500 million delayed draw. This amendment, building on a July 2025 agreement, will support general corporate needs and, crucially, the $500 million licensing fee for its New York State casino license. The funding comes after Bally’s, along with Resorts World New York City and Metropolitan Park, were granted downstate licenses. The loan matures in five years, potentially earlier if outstanding bonds aren't resolved by March 1, 2029. Bally’s Chairman Soo Kim highlighted the lender support and its impact on strategic growth, including online gaming and resort developments. The company can now proceed with its planned $4 billion casino resort in the Bronx, featuring a hotel, entertainment center, and waterfront views, following city council approval to develop on the former Trump Golf Links site.
(Source：Readwrite)