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.