In its pursuit of expansion, Bally’s Corp. is facing liquidity concerns that could jeopardize the company’s future.
The casino operator, which has two major gambling resort projects in the works, is at risk of defaulting on a lender agreement, raising “substantial doubt” about its ability to continue operating, it warned investors in a Friday filing with the Securities and Exchange Commission.
A rendering of Bally’s Corp.’s casino project in the Bronx
In May, Bally’s lenders agreed to temporarily waive requirements regarding the amount of debt the company can carry relative to its cash flow. In exchange, Bally’s must keep a…