Published on: December 2, 2025, at 07:00h.
Updated on: December 1, 2025, at 08:32h.
- Bally’s has been nominated for one of three downstate casino licenses
- If selected for the permit, a hefty payment of $115 million will be due to the Trump Organization
- The regional casino operator plans to construct a $4 billion gaming facility in the Bronx
Bally’s (NYSE: BALY) is progressing towards securing a casino license in New York City, which could result in a significant financial gain for the Trump Organization.
On Monday, the New York Gaming Facility Location Board endorsed Bally’s among the final three candidates for the coveted licenses. If Bally’s receives the nod to establish a $4 billion casino hotel in the Bronx, it will need to remit $115 million to the Trump Organization, led by Eric Trump, the son of former President Trump.
In late 2023, Bally’s entered into an agreement with the Trump Organization to acquire the lease of Trump Golf Links at Ferry Point, which involved an initial payment of $60 million. Additionally, there’s a clause ensuring an extra payment of $115 million if a gaming facility is developed on that land.
While Bally’s has succeeded in removing the Trump name from the golf course, the prospect of a $115 million payout to the Trump Organization may not sit well with residents in a city where the former president is quite unpopular.
Examining Bally’s Financial Standing
Given Bally’s challenging financial state, it’s arguable that its progress in the New York casino bidding occurred due to the withdrawal of competitors or their failure to advance past the Community Advisory Committee (CAC) review.
Consequently, New York regulators will closely examine Bally’s financial health and its ability to access capital markets. Analysts suggest possible avenues for the regional casino operator to bring the Bronx project to fruition, including divesting the operating rights of the now-demolished Tropicana on the Las Vegas Strip.
“The New York license indicates that the company may either sell the OpCo at the former Trop site or partner with another entity to assist with funding construction in New York,” stated Citizens analyst Jordan Bender in a recent note. “We anticipate significant spending for the project will arise later in the decade, especially after Chicago, where the sale-lease-back of Lincoln for $735 million could support construction costs during the crucial spending phase in 2028.”
With ventures in Chicago, Las Vegas, New York, and the acquisition of Australia’s Star Entertainment, Bally’s has a full plate, and none of these projects come at a low cost.
Strategic Execution is Key in New York
The competition in the New York casino landscape is expected to be fierce, and Bally’s will be positioned at the heart of this rivalry since Ferry Point lies just eight minutes from the proposed Metropolitan Park in Queens and 25 minutes from MGM’s Empire City Casino in Yonkers.
Moreover, Bally’s flagship casino on the Atlantic City Boardwalk, like its counterparts, may face challenges from emerging gaming establishments in New York.
“We anticipate that its property in Atlantic City will experience some cannibalization, but its customer database will enable cross-marketing opportunities between the two locations,” added Bender. “The New York City market is poised to emerge as one of the largest casino markets in the U.S., yet flawless execution will be imperative given the high cost of capital, a 30% tax rate, necessary maintenance expenditures, and the competitive environment.”