Bally's Secures $560 Million for Bronx Project as Chicago Site Stays on Track

The Bronx financing package is structured as $400 million in term loans due at closing, bolstered by an additional $160 million in delayed draw commitments. This influx of capital provides the necessary runway for preconstruction planning, a critical milestone as the company works to finalize its broader funding strategy. Following the announcement, Bally’s stock climbed 7.3% to close at $9.84, recovering ground lost after an August securities filing raised concerns over liquidity.

Chairman Soo Kim addressed investor anxieties during an update call, dismissing reports that the Chicago project had stalled. While acknowledging a recent 'construction reset' regarding non-gaming elements, Kim attributed the pause to shifts in the local regulatory landscape, specifically the city's decision to legalize video gambling terminals in bars and restaurants. Currently operating out of a temporary venue, the company maintains that the permanent Chicago site remains on schedule for its early 2027 debut.