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January 27, 2014

Mohegans get $50M for Pennsylvania hotel

Submitted photo Mohegan Sun's Mist night club in Uncasville. The casino company is adding more non-gaming venues and attractions to its properties in Connecticut, Pennsylvania, and New Jersey.

The parent of Uncasville resort casino Mohegan Sun received $50 million in financing from a New York investment firm for a 238-room hotel in Pennsylvania.

Fundamental Advisors provided the loan for the seven-story hotel, special events, and convention center at the Mohegan Tribal Gaming Authority’s casino in Wilkes-Barre, Pa.

The hotel opened on Jan. 18 to offer the Mohegan Sun at Pocono Downs resort another venue to attract revenue.

The hotel includes guest rooms, a spa, and a restaurant while the 20,000-square-foot convention center can be sold as meeting space or used as a 1,500-seat entertainment venue.

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