Bally’s Corporation announced the entry into a new loan and security agreement on September 4, 2026, with WhiteHawk Capital Partners, LP, acting as agent for the lenders. The agreement provides for senior secured term loan commitments totaling $400 million and delayed draw term loan commitments of $160 million, for a combined aggregate principal amount of $560 million.
The financing is intended to fund pre-construction costs and expenditures associated with the development of the Bally’s Bronx project, with a portion of the proceeds available for general corporate purposes. The company stated that the financing is expected to close in the third quarter of 2026, subject to regulatory approval and the satisfaction of customary closing conditions.
Under the terms of the agreement, the loans will bear interest at a rate per annum equal to Term SOFR for the applicable interest period, subject to a customary floor, plus 8.50% per annum. The loans will mature 18 months after their initial funding. The facility includes mandatory prepayment provisions upon events such as asset sales, casualty events, and certain unpermitted debt issuances. Additionally, the agreement contains covenants that limit the ability of the borrower to incur additional indebtedness, pay dividends, sell assets, and grant liens.
Bally’s Corporation was represented by Fried, Frank, Harris, Shriver & Jacobson LLP, and Citizens Capital Markets served as the financial advisor.
