Bally's Secured $560 Million for Bronx Casino
The casino operator obtained private credit to fund pre-construction expenses for its planned Bronx gaming site.
Updated on Sept. 29, 2026 in Gambling
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Bally's Corporation has secured a $560 million loan from WhiteHawk Capital Partners to support its proposed Bronx, New York, casino project. The funds are earmarked for critical pre-construction planning and capital raising efforts for the site.
Why it matters
This financing provides essential liquidity for the developer as it attempts to move forward with a $4 billion property. The company is managing a total debt load of $4.5 billion amid ongoing financial scrutiny and credit concerns.
The proposed development includes a 500,000-square-foot casino, a 500-room hotel, and a 2,000-seat event center. The total estimated cost for the Bronx property is $4 billion.
The players
Bally's Corporation
Bally's Corporation is a global gaming and entertainment company that operates numerous casinos and online betting platforms.
WhiteHawk Capital Partners
WhiteHawk Capital Partners is a private credit firm that provides structured lending solutions to mid-market companies.
Mira Mircheva
Mira Mircheva is the former Executive Vice President and CFO of Bally's Corporation who resigned from the company in August 2026.
Fitch Ratings
Fitch Ratings is a global credit rating agency that provides independent and prospective credit opinions and research.
The details
The loan from WhiteHawk Capital Partners follows a period of financial pressure for Bally's, which recently received a negative outlook from Fitch Ratings and issued a solvency warning. The company is utilizing private credit markets to progress the Bronx project after being granted a license in December.
Timeline
December 2025: New York granted the casino license to Bally's.
August 2026: CFO Mira Mircheva resigned and the company issued a solvency warning.
Third Quarter 2026: The financing is expected to close.
Culture Shift
The push for new physical gaming properties in urban centers like the Bronx marks a departure from recent industry trends that favored digital expansion. This project follows a pattern set by the New York State Gaming Commission casino licensing process by providing the necessary capital to meet development milestones.
Residents should expect ongoing development activity in the Bronx as the firm clears pre-construction hurdles. This project will eventually alter local zoning and infrastructure as the $4 billion facility moves toward a potential opening.
The takeaway
Securing private credit allows the company to continue planning despite its junk-rated credit status. Investors and local stakeholders should monitor whether these funds successfully initiate actual construction on the site.
Further reading
For more on industry trends, visit Gambling.
Source note: This article includes information reported by Card Player.
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