Bally’s is closing in on its $4 billion Bronx casino

Bally’s is rolling the dice in The Bronx after spending nearly $157 million to buy a slice of waterfront parks where it plans to build a massive casino resort.

The Rhode Island-based gaming company paid about $156.6 million to the city for nearly 20 acres at Ferry Point Park near the base of the Whitestone Bridge, securing the prime parcel for Bally’s Bronx’s proposed $4 billion development, real estate records show.

The deal, which took effect in November and closed on February 13, gives the company control of the land currently used for the golf course clubhouse and parking spaces, along with nearby roads that will serve as the main approach to the future complex. Cranes were reported for the first time.

The Trump Organization previously ran the course after it opened in 2015, but the company sold its operating rights to Bally’s for $60 million.

The planned resort will feature an approximately 500,000-square-foot casino, a 500-room hotel and a 2,000-seat entertainment venue, all housed in a sweeping structure overlooking the East River alongside the park’s existing 18-hole golf course.

Bally’s president, Su Kim, pledged that the project would also devote more than $160 million to improving the surrounding 414-acre waterfront park and Throggs Neck neighborhood, with early plans calling for new trails, upgraded playgrounds and expanded landscaping.

The acquisition also formally transfers control of the golf course to Bally’s, which has operated the facility since 2024 under the name Bally’s Links.

Under the terms of the land deal, Bally’s should begin construction within about 18 months. The company is targeting a late summer start, although the project still requires a zoning change before work can begin.

The land use approval has already sparked political drama. Last year, the City Council voted to block the rezoning needed for the casino project, but then-Mayor Eric Adams revived the proposal weeks later by vetoing the measure.

The Bronx proposal ultimately beat out a crowded field of competitors to become one of three projects selected by the New York State Gaming Commission for the coveted casino licenses in the middle of the state. The other two proposals are in Queens — a plan for Metropolitan Park near Citi Field and an expansion of Resorts World near JFK Airport.

As part of a related agreement tied to the purchase, Bally’s also paid the city approximately $4.6 million for an easement allowing it to access sections of Ferry Point Park during construction and infrastructure upgrades.