Trump Jr: Bally’s Secured Trump Golf Links Lease for $60M

In 2015, the Trump Organization and the city of New York reached an agreement that enabled it to extend its lease for the Trump Golf Links Ferry Point in the Bronx. That agreement extended the Organization’s lease for two decades, allowing it to retain its control of the site. However, early in 2021, after the attacks on the US Capitol building in Washington DC, the then-New York City mayor, Bill de Blasio, proposed to put an end to the lease. His efforts did not receive a green light from the Manhattan Supreme Court which ruled against the proposal a year later.

Earlier this year, different media reports speculated that the leading gaming and entertainment giant, Bally’s, was able to purchase the lease for Trump Golf Links. Despite such claims, the cost of the transfer wasn’t confirmed by Bally’s nor by the Trump Organization before this week.

This happened after Donald Trump Jr and his brother Eric Trump testified this week in a civil fraud trial in New York. Thursday marked the second day Trump Jr answered questions. During the testimony, Trump Jr confirmed that the Trump Organization agreed to transfer the lease to Bally’s, as announced by the Associated Press. Reportedly, the leading gaming and entertainment giant paid the company some $60 million, allowing it to acquire the right for the operation of Trump Golf Links.

Lease Transfer Cost Is Lower than Initial Estimates

While the public golf course in New York City was formerly known as Trump Golf Links, its name is now Bally’s Golf Links, according to Bally’s website. The 18-hole links-style golf course offers stunning views of the skyline of New York City, delivering unique experiences for its visitors.

The golf course is open to the public and it is located minutes outside Manhattan. To further elevate the experiences for the visitors, Bally’s Golf Links delivers unique dining experiences thanks to its 20,000-square-foot Clubhouse. Visitors can also benefit from premium accessories and clothes available at the location’s Golf Shop.

Before the latest announcement, Bally’s lease of the 18-hole golf course was estimated to cost some $100 million. Media reports from September estimated that the lease may even surpass $100 million. This otherwise means that Bally’s got a good deal for the transfer of the lease from the Trump Organization.