Facing money challenges across three states where it is building new casinos, Bally’s Corp. said Monday it has secured over a half-billion dollars in new financing to ensure its New York City project — the one that poses the greatest threat to Atlantic City — keeps moving forward.
The financing consists of $400 million worth of loans, followed by an additional $160 million in loans from WhiteHawk Capital Partners LP.
Bally’s is building a $4 billion resort spanning 16 acres of parking lots and practice green area at Bally’s Golf Links at Ferry Point. The development will take a former landfill and transform it into the borough’s single largest private development.
