Bruno Mars in Debt Trouble with MGM Resorts International
Pop superstar Bruno Mars is reportedly facing financial woes with his multi-year residency contract with MGM Resorts International. The singer, known for hits like “24K Magic” and “The Lazy Song,” could be owing up to $50 million to the casino giant for his performances.
According to reports from NewsNation, Mars signed a lucrative deal with MGM that earns him $90 million a year. However, after taxes and paying off his debt, he is left with only $1.5 million per night. This has put Mars in a difficult spot financially, with the casino essentially owning him until the debt is paid off.
Despite the financial challenges, MGM is doubling down on its investment in Mars. The contract not only includes performances at the Park MGM hotel in Las Vegas but also the creation of “The Pinky Ring,” a cocktail lounge at the Bellagio Resort. Additionally, there are rumors of another project in the works with the singer.
In a 2013 interview with GQ magazine, Mars spoke about his early experiences with gambling, revealing that he started betting in casinos in Los Angeles before achieving fame. The singer acknowledged losing $100 on his first bet but emphasized the importance of losing to understand the game.
Meanwhile, Mars is gearing up to perform in Las Vegas in May with Silk Sonic, a group he formed with singer Anderson Paak. Despite the financial challenges, the show must go on for the talented performer.