Bally’s has reached a significant milestone in its effort to build a large-scale casino resort in the Bronx, securing $400 million in financing to support the next phase of the project.
The funding will be used primarily for pre-construction activities tied to the proposed development at Ferry Point Park. While the resort remains years away from opening, the latest financing package gives Bally’s additional resources as it works toward a projected launch in 2030.
The company’s Bronx proposal is one of three downstate New York casino projects selected through the state’s competitive licensing process. With licensing now secured, developers are focused on financing, planning, permitting, and construction before the projects can become operational.
The newly announced funding is part of a broader financing agreement worth approximately $560 million led by WhiteHawk Capital Partners.
According to Bally’s, the package includes $400 million in funded term loans and an additional $160 million in commitments that could be accessed at a later date. The money is expected to cover site preparation, project planning, transaction expenses, and other development-related costs as the resort moves through its early stages.
While the financing marks meaningful progress, it represents only a fraction of the capital ultimately required. Bally’s has previously estimated that the Bronx development could cost roughly $4 billion, meaning substantial additional funding will still be needed before construction is completed.
The announcement nevertheless removes one hurdle from the project timeline and allows Bally’s to continue advancing plans while pursuing future financing opportunities.
The planned resort would be located near the former Trump Golf Links at Ferry Point and has been described as a mixed-use entertainment destination spanning roughly 3 million square feet.
Preliminary plans envision a casino featuring approximately 3,500 slot machines and more than 200 table games. The development could also include poker rooms, a 500-room hotel, restaurants, retail shops, entertainment venues, and extensive parking facilities.
An event center capable of hosting around 2,000 guests has also been proposed, along with a waterfront complex and an 18-hole golf course.
Bally’s strengthened its control of the site in recent years. The company assumed the lease for the Ferry Point golf course in 2023 and later acquired related parkland from New York City, giving it greater control over land needed for the larger development.
Bally’s continues to identify 2030 as the target opening year for the Bronx resort, though significant work remains before that goal can be reached.
Like many major development projects, the casino must navigate construction approvals, permitting requirements, financing milestones, and potential market changes. Large-scale developments frequently experience delays, making any opening date subject to change.
The project also arrives during a period of increasing competition in the New York gaming market. In addition to Bally’s Bronx proposal, approved projects in Queens and at Resorts World New York City are moving ahead with their own expansion plans.
Supporters of the project point to potential economic benefits for the Bronx. Bally’s has projected approximately 15,000 construction jobs during development and between 3,500 and 4,000 permanent positions once the resort is operational.
The company has also stated that the casino could generate tax revenue while bringing additional tourism, hospitality, and entertainment activity to the borough.
At the same time, financial questions remain. Bally’s continues to manage a sizable debt load and has faced scrutiny from analysts regarding its ability to fund a multibillion-dollar development while maintaining broader corporate obligations. Leadership changes and previous concerns raised in regulatory filings have also drawn attention from investors.
Despite those challenges, the new financing package keeps the project moving forward. For now, Bally’s has secured funding for the next stage of development and remains focused on turning its Bronx casino vision into reality over the coming years.
