Bally's Corporation has recently been advancing its casino business on both the east and west coasts of the United States, with its casino resort project in the Bronx, New York, having received approval from the local Community Advisory Committee, moving into the state government review phase. At the same time, the company announced plans to build a new casino resort on Las Vegas Boulevard, including a hotel with 3,000 rooms and a large entertainment complex. These developments mark an acceleration of Bally's business expansion across the United States.
New York Project Approval and Review Process
Bally's casino resort project in the Bronx, New York, has recently made significant progress. The local Community Advisory Committee (CAC) approved the proposal with a 5 to 1 vote to submit it for New York State government approval, competing for one of the three casino licenses in southern New York.
The project is the third to pass the CAC stage, following unanimous approvals for the MGM Empire City Casino and Resorts World Casino New York. Earlier this month, the CAC requested several amendments to the proposal, which Bally's actively addressed, and the amendments were also approved by the committee with a 5 to 1 vote.
New York Casino Review Standards and Competitive Situation
The New York State Gaming Facility Location Board (GFLB) will submit recommendations to the state gaming commission by December 1, which must issue up to three licenses by December 31. The review will consider four weighted criteria: economic activity (70%), local impact of the site (10%), workforce enhancement (10%), and diversity framework (10%).
Currently, among the eight applications, three proposals in Manhattan (Caesars Times Square, Avenir, and Liberty Square) have been rejected, while projects in Brooklyn's Coney Island and Queens' Metropolitan Park are still under review.
Project Background and Political Factors
The development process of Bally's Bronx project involves complex political factors. The company acquired the project site from the Trump Organization, which will receive a $115 million bonus if a casino license is granted.
New York City Mayor Eric Adams has twice pushed the project forward, first by lowering the city council voting threshold and then vetoing a city council vote, allowing the project to enter the CAC stage. The CAC had requested 14 pages of amendments, nearly covering all aspects of the proposal, which played a key role in the final approval.
Las Vegas New Project Planning
Bally's also announced the development plan for a plot on Las Vegas Boulevard, adjacent to the under-construction MLB stadium for the Oakland Athletics. The project plan includes two hotel towers totaling 3,000 rooms, a casino, a 2,500-seat entertainment venue, and over 500,000 square feet of retail and dining space.
The project covers 35 acres, with the stadium occupying 9 acres, allowing for up to 26 acres of development. The landowner GLPI rents it to Bally's for $10.5 million per year, and the company expects to start development in the first half of 2026, although specific cost estimates have not been disclosed.
Company Financial Status and Business Layout
Bally's currently has projects in various development stages in multiple U.S. cities. The $1.7 billion casino project in Chicago has been delayed several times and must open by September 2026; the New York project, if approved, will cost $4 billion; the cost of the Las Vegas project has not yet been announced.
The company's second-quarter report shows $174 million in cash and $3.5 billion in total debt. Recently, it obtained $1.79 billion in cash by selling its international digital business to repay debt, and supplemented liquidity by selling and leasing back a Rhode Island casino for $735 million.
International Investments and Regulatory Challenges
In addition to its U.S. operations, Bally's has made significant investments in Australia's Star Entertainment Group. The group is facing anti-money laundering fines from Australian authorities, and its flagship Sydney casino's license has been revoked for several years, with the revocation period recently extended by another six months.
These international investments increase the company's regulatory complexity, requiring compliance with legal requirements across different jurisdictions.
