Bally's Amends Loan to Help Pay for New York Casino License

Dow Jones2025-12-08

By Nicholas G. Miller

Bally's amended a loan agreement to raise liquidity that will in part be used to pay for fees for its New York casino license.

The company said the amendment increases the financing commitments to $600 million for the initial term loan and up to $500 million for the delayed draw term loan. The initial term loan will be used for general corporate purposes, including the repayment of debt. The delayed draw term loan will be used to pay fees in connection with its New York State casino license.

The financing is provided by Ares Management Credit funds as well as King Street Capital Management and TPG Credit.

The term loans will mature five years after the closing of the new financing, unless Bally's unsecured bonds due 2029 remain outstanding as of March 1, 2029, in which case the term loans will mature then.

The company won approval from a key New York state board to operate a casino in New York City last week and will have to pay a fee of at least $500 million to receive the license.

Write to Nicholas G. Miller at nicholas.miller@wsj.com.

(END) Dow Jones Newswires

December 08, 2025 07:46 ET (12:46 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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Miller \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  Bally's amended a loan agreement to raise liquidity that will in part be used to pay for fees for its New York casino license. \n</p>\n<p>\n  The company said the amendment increases the financing commitments to $600 million for the initial term loan and up to $500 million for the delayed draw term loan. The initial term loan will be used for general corporate purposes, including the repayment of debt. 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Miller \n\n\n \n\n\n  Bally's amended a loan agreement to raise liquidity that will in part be used to pay for fees for its New York casino license. \n\n\n  The company said the amendment increases the financing commitments to $600 million for the initial term loan and up to $500 million for the delayed draw term loan. The initial term loan will be used for general corporate purposes, including the repayment of debt. 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