Bruno Mars reportedly in $50 million gambling debt MGM Grand
Bruno Mars owes millions to MGM casino for hefty poker debts, risking long-term partnership: Report
A recent report alleging a staggering $50 million gambling debt at the MGM Grand has Bruno Mars' fans buzzing.
In 2016, the singer-songwriter announced a 'multi-year residency deal' with MGM Grand in Las Vegas. However, the recent report suggests that the collaboration between Mars and the hospitality brand has soured due to mounting debt.
On 16 March, it was reported that Bruno Mars now owes millions of dollars to the MGM casino after reportedly accumulating hefty poker debts. The Talking to the Moon singer had a multi-year residency agreement with Park MGM in Las Vegas, where he performed on a regular basis.
Keep updated, follow The Business Standard's Google news channel
Citing that MGM "basically owns him," they continued, "He earns $90 million a year from the casino deal, but then he has to pay back his debt... after taxes (Mars earns $1.5 million per night)."
In 2016, it was announced that the hospitality industry had entered into a long-term partnership with Mars, which will feature his exclusive performances across an extensive portfolio of world-class entertainment venues.
The president of MGM Grand delivered a statement claiming, "Bruno is among the most talented performers in the world and we are excited to start a long-term relationship with him." Now, the once mutual relationship appears to have evolved into a feud due to piled-up casino debts.
While the 24K Magic singer has never shied away from admitting that he supported himself by playing poker before pursuing music, fans are shocked that news of his casino debt has made its way onto the top of headlines.
