Bally's Corporation announced an amended and restated commitment letter increasing term loan availability to $1.1 billion.
The loan proceeds will support payment of the New York State casino license fee.
The financing commitments include an initial term loan of $600 million and up to $500 million of delayed draw term loan.
Increased Financing
Term loan availability increased to $1.1 billion to support corporate purposes and licensing fees.
Lenders' Support
A&R Commitment Letter strengthens Bally's liquidity position with support from lenders.
Maturity Details
Term Loans maturing in five years after new financing, secured against company assets.
Strategic Growth Investment
Focus on strategic growth pipeline spanning online gaming, casino portfolio, and resort developments.
- The new financing enhances Bally's liquidity position, enabling continued investment in strategic growth opportunities.
- Securing assets against the Term Loans provides a strong financial backing for the company.
- The expansion aims to strengthen Bally's position in the gaming industry and boost its presence in key markets.
Bally's Corporation's amended commitment letter reflects a strategic financial move to support its growth initiatives and strengthen its financial position. The increased term loan availability and support from lenders demonstrate confidence in Bally's future prospects.