Famed betting syndicate member David Walsh (pictured) is getting closer to realizing his plan to build a VIP-only casino at his Museum of Old and New Art (MONA) in the Australia state of Tasmania.
Multiple Aussie media outlets are reporting that the Tasmanian Treasury has been discussing the potential of a casino tie-up between Walsh’s MONA and the Federal Group, which holds a monopoly on casino gaming in the state. For such a plan to work, the Federal Group’s deal with the state would require amending.
On Tuesday, ABC News quoted Tasmanian Treasurer Peter Gutwein saying his office had received proposals from both MONA and the Federal Group “a number of weeks ago.” Gutwein said the Treasury had enlisted “an independent firm” to study the proposal and that this process was underway.
The proposal reportedly involves a boutique casino offshoot of MONA that would be open to only the ritziest of VIP gamblers. Last year, Walsh announced his desire to add a gaming option to MONA that would be called Monaco and would only be accessible by high-net-worth international gamblers for table games only, with no video poker (pokies) machines on the premises.
The Federal Group, which operates mass market casinos in Hobart and Launceston, also runs a luxury resort and a hotel in the state, and is now reportedly convinced that these properties would benefit from an influx of international VIP gamblers. The Group’s previous application for an increase in the number of pokies at its casinos was rejected, so apparently it’s decided that if the gov’t won’t let it go more downmarket, the only way to go is up.
Walsh was a member of the famed Punters Club, a syndicate of high-rolling sports and race bettors that included the legendary Zeljko Ranogajec. In 2012, the Australian Tax Office reached a private settlement with Walsh over an estimated $37m back tax claim related to the Club’s activities.
This isn’t the first time that Walsh has sought to utilize gambling to support his artistic endeavors. In 2009, when MONA was still under construction, Walsh was having difficulties meeting the property’s building costs, which prompted him to suggest that the Punters Club “go crazy” at the Melbourne Cup racing meet. The Punters Club ultimately went on to win between $16m and $17m that week, and Walsh’s share of those spoils allowed him to bring MONA to fruition.
