WILKES-BARRE-PA-Fundamental Advisors, LP, a New York City-based alternative asset management firm, reports it has provided senior secured loan financing for a $50-million hotel development project attached to Mohegan Sun at Pocono Downs here.

The new seven-story hotel, which opened to the public on Jan. 18, features 238 rooms and a special events/convention center.

"The completion of this project further solidifies our strong partnership with the Mohegan Tribal Gaming Authority and demonstrates our ongoing commitment to providing flexible and reliable capital solutions," states Laurence Gottlieb, chairman and CEO of Fundamental. "The opening of the Mohegan Sun at Pocono Downs Hotel represents an exciting step forward in our relationship with the Mohegan Tribal Gaming Authority and we look forward to continuing our work together."

"Fundamental has been a dedicated partner for many years and this project represents a culmination of our strong ongoing relationship," states Mitchell Grossinger Etess, CEO of Mohegan Tribal Gaming Authority, an instrumentality of the Mohegan Tribe of Indians of Connecticut. "We look forward to exploring new projects and collaborating on future special situation opportunities with the team at Fundamental."

The hotel includes a combination of standard guest rooms and suites, as well as a fitness center, indoor pool, and luxury spa. A new porte-cochere entranceway was also added that links the casino, hotel and specials events/convention center, Fundamental officials state.

The adjacent special events/convention center has approximately 20,000 square feet of meeting, event and concert space that can even be converted into a 1,500-seat entertainment venue.