Ho-Chunk Nation Secures $610 Million for Beloit Casino Project
The Ho-Chunk Nation of Wisconsin closed a financing deal totaling $610 million in senior secured credit facilities on September 26, 2025. These funds are dedicated to developing a $705 million casino and resort in Beloit.
Financing Structure and Tribal Capital
The secured funding package was authorized by the Ho-Chunk Nation Legislature. It consists of two equally sized primary components, each valued at $305 million: a revolving credit facility and a delayed-draw term loan.
This $610 million debt financing is supplemented by about $95 million in tribal equity, covering the full $705 million development cost plus associated fees and expenses.
Flagship Resort Development
The new facility will serve as a flagship casino resort and is intended to expand the existing Ho-Chunk Gaming Wisconsin brand. The brand currently operates six casino properties throughout the state. The Beloit resort is designed to be a comprehensive gaming and hospitality destination.
The main features of the new facility include:
- Over 1,500 slot machines and 40 table games.
- A 312-room hotel for guest accommodations.
- Multiple restaurants and dining venues.
- A 2,000-seat convention center for meetings and events.
- Extensive parking facilities.
Construction for the gaming project began in October 2024. The casino is scheduled to open in September 2026. The hotel and convention center are expected to open about one year later.
The project had previously received necessary approvals from the federal Bureau of Indian Affairs in 2020 and Wisconsin Governor Tony Evers in 2021.
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