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Bally’s announced on Monday that it has secured a total of $560 million worth of financing from WhiteHawk Capital Partners “to fund further development of the Bally’s Bronx project and general corporate purposes”. The funding will close this quarter, the company said.
“This important financing allows us to progress the pre-construction planning process so that we are ready to complete the remainder of the capital raise and remain on schedule,” Kim said in a statement. “Furthermore, the additional liquidity provides us greater flexibility for other capital opportunities.”
The financing, added Bob Louzan, managing partner at WhiteHawk Capital Partners, reflects its ability to structure flexible capital solutions for complex transactions to “support the project’s pre-construction work as Bally’s advances its broader financing plan”.
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Meanwhile, the CGMC has not disclosed when the integrity and quality framework will be finalised, leaving casino operators without concrete guidance on the new requirements.
The gap comes as Phnom Penh prepares to host its major anti-scam conference on 23-24 September, part of the wider government campaign against online scam networks.
Initially framed as “Together Towards Disrupting the Chain and Ending Online Scams” by AKP in August, the conference now carries the theme “Acting Together towards Breaking the Chain and Eradication of Online Scams” on its official website.
What is Hot Dog Heist?
“Operators do pay, yes, but they pay whatever suits them,” they said. “In other words, we effectively pay what benefits us. All the while, the state has no means of monitoring its regulatory policies.”
In response to these issues, earlier this year the DRC Ministry of Finance outlined plans for a new gambling monitoring platform to enhance its supervision of the sector.
The DRC government is also developing a new legal framework for the gambling industry, designed to modernise existing rules and strengthen oversight of tax collection.