Bally's Corporation filed a Form 8-K with the SEC on September 14, 2026, disclosing that its subsidiary Bally's New York Operating Company, LLC entered into a senior secured loan agreement on September 4, 2026, providing up to $560 million in term loan commitments to fund development of the Bally's Bronx project.

Key Highlights

  • Total commitments of $560 million: the agreement provides $400 million in closing date term loan commitments and $160 million in delayed draw term loan commitments.
  • Lender and agent: WhiteHawk Capital Partners, LP is named as agent for the lenders under the Loan Agreement.
  • Interest rate: the Loans will bear interest at Term SOFR for the applicable interest period plus 8.50% per annum, subject to a customary floor.
  • Maturity: the Loans mature 18 months after their initial funding under the Loan Agreement.
  • Use of proceeds: funds are designated for certain pre-construction costs and expenditures associated with the Bally's Bronx project and for general corporate purposes.
  • Regulatory condition: initial funding is subject to regulatory approval and satisfaction of other customary conditions precedent.

Bally's New York Subsidiary Enters Senior Secured Loan for Bronx Development

According to the filing, Bally's New York Operating Company, LLC, an indirect wholly owned subsidiary of Bally's Corporation (NYSE:BALY), together with certain other subsidiaries identified as the "Bally's New York Guarantors," entered into the Loan Agreement on September 4, 2026. The Loans will be guaranteed by the Bally's New York Guarantors and secured by substantially all of the assets of the Bally's New York Loan Parties, subject to certain exceptions, the filing stated.

The filing disclosed that the Loan Agreement includes mandatory prepayment provisions requiring prepayment upon certain events, including proceeds from certain asset sales, casualty events (subject to exceptions), and certain unpermitted debt issuances. Voluntary prepayment in whole or in part is permitted at any time without premium or penalty, except that a full prepayment is subject to a customary prepayment fee, according to the filing.

The Loan Agreement also contains covenants that, subject to certain exceptions and qualifications, limit the Bally's New York Loan Parties' ability to incur additional indebtedness, pay dividends or make certain other restricted payments, sell assets, make certain investments, and grant liens, the filing reported. The filing further noted the inclusion of construction and development covenants relating to the Bally's Bronx project, as well as customary events of default covering payment defaults, covenant defaults, cross-defaults, certain bankruptcy and insolvency events, judgment defaults, and change of control, which permit acceleration of repayment and termination of unfunded commitments.

What Was Disclosed

Bally's Corporation reported that its subsidiary entered a $560 million senior secured term loan agreement with WhiteHawk Capital Partners, LP as agent, to finance pre-construction work on the Bally's Bronx project, with funding contingent on regulatory approval.