Bally’s Secures Bronx Funding, Reaffirms Chicago Casino Plan
Bally’s secured $560M for its Bronx casino and reaffirmed its 2027 Chicago casino opening despite a VGT-related construction pace reset.Summary
Bally’s Corporation announced two major updates: it has secured $560 million in new financing for its planned $4 billion Bronx casino resort, and it reaffirmed that its $1.7 billion permanent Chicago casino will open in early 2027. The Bronx financing, led by WhiteHawk Capital Partners, covers pre-construction costs and supports the project, which is slated for a single-phase opening in 2030. In Chicago, Chairman Soo Kim addressed concerns about a construction pace reset, stating it is not a stoppage but a realignment due to the legalization of video gaming terminals (VGTs) in the city. Bally's argues VGTs could impact casino revenue by 30%-50%, leading to a reassessment of about 12% of planned amenities. Despite financial challenges, including a 'going concern' doubt and a CFO resignation, the company remains committed to both projects.
(Source：World Casino News)