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Bally’s has secured $400 million in financing to support pre-construction work on its proposed Bronx casino resort at Ferry Point Park, marking a meaningful step forward for one of the downstate New York projects moving through the state’s licensing process.
The broader financing package is worth about $560 million and is led by WhiteHawk Capital Partners. Bally’s said the package includes $400 million in funded term loans and another $160 million in commitments that could be accessed later. The company still lists 2030 as its target opening year.
What the financing covers
According to the company’s plans, the new money is expected to fund site preparation, project planning, transaction expenses, and other development-related costs tied to the Bronx proposal.
That matters because Bally’s has previously estimated the full development could cost roughly $4 billion, leaving a substantial gap between this financing package and the total projected price tag.
The proposed resort near the former Trump Golf Links at Ferry Point would be a large mixed-use project. Preliminary plans call for about 3,500 slot machines, more than 200 table games, poker rooms, a 500-room hotel, restaurants, retail, entertainment venues, extensive parking, a roughly 2,000-seat event center, a waterfront complex, and an 18-hole golf course.
Where the Bronx bid stands now
Bally’s assumed the lease for the Ferry Point golf course in 2023 and later acquired related parkland from New York City. Its Bronx proposal is one of three downstate New York casino projects selected through the state’s competitive licensing process.
Supporters of the project have said the development could create about 15,000 construction jobs and between 3,500 and 4,000 permanent jobs. Bally’s has also argued the resort could generate tax revenue and bring added tourism, hospitality, and entertainment activity to the Bronx.
What New York readers should watch
The financing announcement moves the project forward, but it does not settle the biggest open questions. Bally’s still needs to close a major funding gap relative to the project’s estimated total cost, and the final permitting, design scope, and construction timeline remain unresolved.
For now, the clearest milestone is unchanged: Bally’s is still targeting a 2030 opening for the Bronx resort.
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Source: As reported by Ian Valentino.
