![]() ![]() That field is teeming with competition, and its outcome won’t likely be known until late this year or early 2024. That could curry the favor of local politicians who have long been irked by the presence of a pricy golf course in a community where many folks don’t have the means to enjoy that facility.Īll of that is based on the premise that Bally’s will be one of the winning bidders for three downstate gaming permits. Kim also told the Times that Bally’s would ultimately like to acquire all of the Ferry Point land, using a portion for its planned $2.5 billion casino hotel while turning the remainder into parks and green space that the public can enjoy. Should the gaming company pay Trump’s conglomerate and exercise its sublease rights, it can remove the Trump name under the terms of that pact. The 17 acres Bally’s can sublease from the Trump Organization includes the clubhouse, driving range, and parking lot, as well as an area including signage bearing the former president’s surname. For Bally’s Bronx Ambitions, Lots of Moving Parts The Trump Organization’s lease with the city has less than 20 years left, and the city has to sign off on any new plans for the property. Bally’s Chairman Soo Kim, whose Standard General hedge fund is the gaming company’s largest shareholder, told the New York Times the firm can make a payment at any time, essentially moving into the Trump Organization’s lease. Last December, Bally’s reached an agreement with the Trump Organization under which the gaming company can take control of 17 acres, essentially subleasing the land from Trump’s company. The course sits on 192 acres that former President Donald Trump’s company leases from New York City. The regional casino operator is in talks with the Trump Organization about using 17 acres at the Trump Golf Links at Ferry Point in the Bronx as the site of a new gaming venue. Bally’s will likely remove the Trump name from the venue if it gets approval to build a casino there. Trump Golf Links at Ferry Point in the Bronx, NY. If it’s successful in its bid to procure a New York casino permit, Bally’s (NYSE: BALY) would likely pull the Trump name from a golf course in the Bronx. Financial, Gaming Business, Mergers and Acquisitions.
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