Bally’s Corporation has entered a new $1.1bn term loan credit facility to fund the construction of Bally’s Bronx and Bally’s Chicago. The financing was provided by funds managed by Ares Management, King Street Capital Management and TPG Credit, with maturity scheduled for 2031.
The operator noted that a portion of the capital will also be directed toward “general corporate purposes,” alongside project funding. Portions of the new loan facility, combined with funds from the Twin River Lincoln sale and Intralot transaction, will be used to repay the company’s outstanding $1.47bn term loans due in 2028.
Twin River Lincoln sale strengthens balance sheet
Furthermore, Bally’s confirmed the completion of its $700m sale of Twin River Lincoln Casino Resort to GLP Capital, a subsidiary of Gaming and Leisure Properties. The agreement establishes a $56m initial annual cash rent, subject to customary escalation terms.
The transaction follows Bally’s earlier October 2025 deal involving Intralot. There have also been leadership changes, such as the appointment of Robeson Reeves as CEO of Bally’s Intralot and a member of the company’s board.
New York licensing race reshapes competitive landscape
Development plans for Bally’s Bronx are in motion after the New York Gaming Facility Location Board recommended commercial casino licensure for the final three bidders in December 2025. The decision paved the way for new properties from Bally’s, Hard Rock International and Resorts World New York City.
Several major operators had initially pursued licences before withdrawing from the race. Wynn Resorts, Caesars Entertainment, Mohegan and MGM Resorts International exited the competition at various stages during 2025. Their departures narrowed the field and increased attention on remaining proposals.
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