Bally's amends WhiteHawk loan, drawing $400m for Bronx casino
The amended agreement of 1 October adds Bronx project subsidiaries as obligors and leaves $160 million of delayed draw commitments available.
In brief
- What happened
- Bally's amended and restated its loan agreement with lender WhiteHawk on 1 October 2026; the $400 million first tranche was fully funded, with $160 million more available later.
- Why it matters
- The $560 million of commitments is equal to 14% of the $4.0 billion Bally's puts on its Bronx casino project.
Bally's amended and restated its loan agreement with WhiteHawk Capital Partners on 1 October 2026, and the $400 million of closing date term loan commitments was fully funded the same day. A further $160 million of delayed draw commitments remains available for later draws.
Bally's New York Operating Company, LLC, an indirect wholly owned subsidiary of Bally's Corporation, and certain other subsidiaries entered into the agreement. WhiteHawk Capital Partners, LP acts as agent for the lenders. The new agreement amends and restates in its entirety the loan and security agreement dated 4 September 2026, which Bally's described in a Form 8-KForm 8-KThe report a company listed in the United States files with the Securities and Exchange Commission to announce a significant event between its regular quarterly and annual reports.Full entry in the glossary filed on 14 September 2026.
The change named in the filing is that additional subsidiaries formed for the Bally's Bronx project were added as obligors. Bally's said the other material terms are consistent with the earlier agreement. The full agreement will be filed as an exhibit to Bally's Form 10-Q for the quarter ended 30 September 2026.
Key details
- Funded: $400 million of closing date term loan commitments, drawn on 1 October 2026.
- Still available: $160 million of delayed draw term loan commitments, for certain pre-construction costs and expenditures on the Bronx project.
- Total commitments: $560 million.
- Use of the first tranche: in its press release, Bally's said the $400 million will pay certain pre-construction costs for the Bronx project, with a portion going to general corporate purposes, including fees and expenses at closing.
- Advisers: Citizens Capital Markets & Advisory was financial adviser and Fried, Frank, Harris, Shriver & Jacobson LLP legal adviser to Bally's.
Why it matters
The $560 million committed is equal to 14% of the $4.0 billion Bally's puts on the Bronx project. The company says the casino is expected to open by 2030 and will have 3 million square feet of gaming facilities, a 500-room hotel, a 2,000-person event center and an 18-hole golf course.
What to watch
Bally's will file the full amended agreement with its 10-Q for the quarter ended 30 September 2026.
Correction, 2 October 2026: An earlier version of this story said the loan was funded on 2 October and presented it as a new financing. It was funded on 1 October 2026 under an amended and restated agreement that replaced one dated 4 September 2026. The story has been rewritten from the full Form 8-K.
Drafted with AI assistance from the company's official announcement or filing, fact-checked automatically against that source and reviewed by our editors before publication. How we work