Home Economy Economic Activity Bally’s awarded license to build, operate $4B Bronx casino

Bally’s awarded license to build, operate $4B Bronx casino

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PBN Staff

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12/15/2025

NEW YORK CITY Mayor Eric Adams, third left, participates in the ribbon cutting ceremony at Bally Golf Links, formerly Trump Links, in the Bronx borough of New York in January 2024. Bally’s Corp. has secured a license to build and operate a casino in New York City, according to a report by The Associated Press. / AP FILE PHOTO VIA THE MAYORAL PHOTOGRAPHY OFFICE/MICHAEL APPLETON

PROVIDENCE – Bally’s Corp. has secured a license to build and operate a casino in New York City, according to a report by The Associated Press. The N.Y. State Gaming Commission on Monday formally approved Bally’s plan to build a $4 billion casino next to Bally’s Golf Links in the Bronx at Ferry Point, next

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PROVIDENCE – Bally’s Corp. has secured a license to build and operate a casino in New York City, according to a report by The Associated Press. The N.Y. State Gaming Commission on Monday formally approved Bally’s plan to build a $4 billion casino next to Bally’s Golf Links in the Bronx at Ferry Point, next to a golf course previously owned by President Donald Trump. In all, the commission awarded three licenses to operate in the lucrative metropolitan-area market during a meeting at a riverside park in upper Manhattan. Also winning approval were New York Mets owner Steve Cohen, who is proposing to build a casino next to Citi Field in Queens, and Genting Group, which is proposing to expand the existing casino next to Aqueduct racetrack in Queens. The panel approved the licenses with the condition that the companies appoint an outside monitor to ensure they're complying with state laws and meeting the many promises and local investments they made to communities. Brian O’Dwyer, the commission’s chairperson, said the state looked forward to casino projects' promises of jobs, infrastructure investments and gaming revenue realized. The state gaming commission was authorized to license up to three casinos in the New York City area after voters approved a referendum in 2013, opening the door to casino gambling statewide. Bally’s proposal calls for a 250-foot-tall casino spanning 3 million square feet that will hold 3,500 slots and other gambling machines, 250 table games and a poker room. It also includes a 500-room luxury hotel, dining and entertainment venues, a 2,000-person event center, and meeting spaces. Monday’s decision also means Trump likely stands to claim a substantial prize. When Bally’s purchased operating rights for the city-owned Ferry Point golf course from the Trump Organization in 2023, it agreed to pony up an additional $115 million if it won a casino license. Monday’s ruling, in some ways, was largely a formality. Millions of dollars in gambling revenues are already factored into the state budget. The Gaming Facility Location Board, charged with vetting the proposals for the commission, also recommended awarding a license to the three proposals earlier this month. The board, in its written decision, concluded that the region’s dense and relatively affluent population, combined with high tourism, would be able to support all three plans despite their relative proximity to each other. The panel said its consultants conservatively estimated the casinos would generate a combined $7 billion in gambling tax revenues from 2027 to 2036, plus $1.5 billion in licensing fees and nearly $6 billion in state and local taxes. On Dec. 8, Bally’s announced that it had increased its term loan availability to $1.1 billion, which it will use to reduce debt and pay for the potential New York State casino license. The new financing includes a $600 million initial term loan and a delayed draw-term loan of $500 million. The increase is backed by Ares Management Credit funds, King Street Capital Management and TPG Credit. Bally’s plans to combine the proceeds of the initial term loan with existing cash and funds from the previously announced sale-leaseback of the Twin River Lincoln Casino Resort for general corporate purposes. This includes the repayment of the company’s existing term loan and any amounts drawn on its revolving credit facility. With the delayed draw-term loan, Bally’s will use the proceeds to pay for the New York State casino license that is expected to be awarded at the end of the month for its proposed Bronx gaming facility. Material from The Associated Press was used in this report.