Trump Set to Receive $115 million Payment if Bally's Obtains New York City Casino License
In the hot race for one of the coveted downstate New York casino licenses, Bally's Corporation is giving its all. With a whopping $2.5 billion project planned for Ferry Point in the Bronx, in partnership with the New York Yankees, Bally's is leaving no stone unturned.
However, the road to success isn't smooth for this gaming giant. The winds of financial and operational challenges are strong, with concerns over recent credit downgrades and their competing projects in Chicago and Las Vegas making things tough.
You might wonder what's the twist here? Well, there's a $115 million payment lined up for Donald Trump's company, should Bally's manage to nail the casino license. This agreement, dating back to 2023, when Bally's forked over $60 million to take over Trump's golf course operation, holds this tidy sum.
Now, you might be thinking, what are the odds with Donald Trump being a controversial figure among certain New York lawmakers? That could pose a hurdle indeed when it's time for public officials to weigh in on the proposals.
By the end of 2025, the New York State Gaming Commission is set to make its decisions on the recipients of the licenses, with Bally’s squaring off against heavyweights like Steve Cohen's Citi Field plan and a Times Square casino backed by none other than Jay-Z. So, buckle up, it's going to be an epic showdown!
In light of the financial and operational challenges faced by Bally's Corporation, which includes recent credit downgrades and competing projects in Chicago and Las Vegas, lawmakers might find controversy with Donald Trump being involved, given his controversial status in certain New York circles. By the end of 2025, when the New York State Gaming Commission makes its decisions on the casino license recipients, Bally’s will be vying against heavyweights like Steve Cohen's Citi Field plan and a Times Square casino backed by Jay-Z, potentially making business, politics, and general-news headlines a rollercoaster ride until then.
