The funding package, led by WhiteHawk Capital Partners, consists of $400 million in term loans due at closing and an additional $160 million in delayed draw commitments. This injection provides a critical bridge for the company, which saw its stock plummet 26% on August 17 following a regulatory filing that highlighted potential liquidity hurdles. Despite Monday’s rally, the stock remains down approximately 39% for the year.
In section Market Quotes
Bally’s Stock Jumps on $560 Million Bronx Casino Funding
Bally’s shares climbed 9% to $10 on Monday, signaling a rare moment of investor optimism after the company secured $560 million in financing commitments. The capital is earmarked for its ambitious $4 billion Bronx resort project, an aggressive expansion plan that has faced significant scrutiny throughout a volatile fiscal year.
Chairman Soo Kim stated that the capital allows the firm to advance preconstruction planning for the Bronx site, which is currently slated for a 2030 opening. By securing these funds, management aims to stabilize the project timeline as it prepares to tackle the remainder of its multi-billion dollar capital requirements.
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