Mona casino licence fee revealed

Mona’s multi-millionaire owner David Walsh will pay a massive sum of money every month for a high-roller casino licence if his proposal is approved, it has been revealed. FULL DETAILS >>

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MONA’s multi-millionaire owner David Walsh will pay $16,666 a month for a high-roller casino licence if his proposal is approved, it has been revealed.

The state government has released the draft legislation for it’s Future Gaming Market reforms.

Among the reforms is the provision for new “high roller” casinos for interstate and overseas patrons.

The legislation revealed the 20-year licences would come with a licence fee amounting to $200,000 a year.

Mr Walsh first proposed “Monaco” – a “private, members-only, high-limits, poker machine-free facility for non-Tasmanians” on the Mona site around 2015.

“The high-roller casino licence holder will be required to pay a monthly licence fee of $16 666, to be paid in advance on the first day of each month,” the government’s proposal reveals.

“This fee will be prescribed in regulations and is to be adjusted annually by the Consumer Price Index.”

Illustration of the proposed new casino to be built by MONA owner David Walsh on the banks of the River Derwent in Hobart. (Design as of December 2015)

In addition, the operator will have to put at least $1 million or one per cent of turnover, into an account as a guarantee fund, to cover debts if they go broke.

The casino operator will be taxed at a rate of three per cent tax on the first $15 million in profits, five per cent on the next $15 million and seven per cent after that.

The Government is making available two ‘high-roller, nonresident’ casino licences – one in the south, which is to be offered to Mona, subject to assessment, and one in the north.

No backer has yet come forward for a northern high-rollers venue,

The proposal is “subject to a cost-benefit analysis demonstrating it is in the State’s best interest”.

Founder of Mona David Walsh talking with media during the reopening of Mona post-Covid shut down in 2020. Picture: Zak Simmonds

Gaming machines will not be permitted to operate under a high-roller casino licence.

Tasmanians can forget about sneaking in — they would face fines of up to $17,300 and the operator would face fines of up to $430,000 per offence.

A government spokesman said that subject to the legislation passing parliament, the licence would not be available for two years.

“Our policy will allow for two new high-roller casinos to be available from 1 July 2023, with one in the South to be available to Mona, and one available in the north.

“Further discussions will be conducted with Mona over the next two years.”

Mr Walsh declined to comment.

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