Bally’s shares gained in New York Monday on news of the $560 million financing
Bally’s Corporation shares gained more than 7 per cent in New York Monday after the company announced new funding from WhiteHawk Capital Partners.
Bally’s Corp. has secured financing of $560 million, comprised of an aggregate principal amount of $400 million and delayed draw term loan commitments in an aggregate principal amount of $160 million.
The loans will be primarily used to fund the development of the Bally’s Bronx project, with a portion of the proceeds available to the company for general corporate purposes.
“This important financing allows us to progress the pre-construction planning process so that we are ready to complete the remainder of the capital raise and remain on schedule,” said Bally’s Corporation chairman Soo Kim. “Furthermore, the additional liquidity provides us greater flexibility for other capital opportunities.”
The new financing is expected to close in the third quarter of 2026, subject to regulatory approval and the satisfaction of other customary closing conditions.
Bob Louzan, managing partner at WhiteHawk Capital Partners, commented: “We are pleased to partner with Bally’s on this important next phase of the Bronx project. This financing reflects our ability to structure flexible capital solutions for complex transactions and will support the project’s pre-construction work as Bally’s advances its broader financing plan.”
Shares in Bally’s Corporation (NYSE:BALY) gained 7.31 per cent to close at $9.84 per share in New York Monday.