Bally’s Boosts Financing to Advance New York Casino Plans
Bally’s secured $1.1 billion in financing to pursue a New York casino license and finalize a real estate deal.Summary
Bally’s Corporation has increased its financing commitments to $1.1 billion to bolster its pursuit of a casino license in New York State. The new agreement involves $600 million in immediate term loans and a $500 million delayed draw option, provided by private credit firms like Ares Management Credit and King Street Capital Management. These funds will be used for general corporate purposes, including debt repayment, and to cover the substantial licensing fees associated with a New York casino license.
The financing also facilitates the completion of a sale-leaseback deal for the Twin River Lincoln Casino in Rhode Island, previously agreed upon with Gaming and Leisure Properties (GLPI) for $735 million. This deal was previously stalled due to creditor concerns, but is now expected to close in early 2026.
Bally’s Chairman Soo Kim expressed confidence that the financing demonstrates lender support and will enable continued investment in the company’s diverse portfolio, including online gaming and planned resort projects in Chicago and downstate New York. Despite recent revenue gains, particularly in its Casinos & Resorts division, the company’s debt and growth management remain key areas of focus for investors and analysts.
(Source：Gamblingnews)