MGM Resorts International is shutting down claims of “24K Magic” singer Bruno Mars owing their Las Vegas casino a massive $50 million gambling debt.
A few days ago, NewsNation reported that a Las Vegas insider told them that the 38-year-old singer is now “basically owned by MGM” after allegedly accruing millions of dollars of debt. The insider told the publication that Mars — who signed a multi-year contract with MGM Resorts International in 2016 — might be indulging in his partnership a little more than he should be.
The 15-time Grammy Award-winner has been known to rack up large debts at the poker tables and even told James Corden during ‘Car Pool Karaoke’ that he used to play cards “for a little while” to pay his bills when he first moved to Los Angeles in pursuit of a career in entertainment. Also, in August 2013, Star Magazine even shared a headline that Mars “played poker for 3.5 hours at a casino.”
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Speaking with NewsNation, their source alleged, ”[Bruno Mars] owes millions to the MGM [from gambling]. His debts have gotten as high as $50 million. [MGM] basically owns him. He makes $90 million a year off of the deal he did with the casino, but then he has to pay back his debt… after taxes [Mars makes $1.5 million per night].”
However, the publication noted that $90 million after taxes is more like $60 million. Despite living at MGM’s various properties for free, while he has his contract in place, the publication reported that he should be banking/saving a lot more than he’s been doing since partnering in 2016. Regardless of the alleged million dollars worth of debt that Bruno Mars has racked up gambling at MGM’s casinos, it’s reported that the organization remains ten toes down for the singer as they continue to expand their business with him.
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Recently, The Pinky Ring — which is Mars’ cocktail lounge that sits inside the Bellagio (an MGM property) — opened during Super Bowl weekend as part of Mars’ deal with MGM Resorts International. NewsNation now reports that MGM is expecting to work on another project with Bruno Mars in the near future.
Since NewsNation’s report, MGM told the Las Vegas Review-Journal, “Any speculation otherwise is completely false; he has no debt with MGM. We’re proud of our relationship with Bruno Mars, one of the world’s most thrilling and dynamic performers.”
The statement continued, “From his shows at Dolby Live at Park MGM to the new Pinky Ring lounge at Bellagio, Bruno’s brand of entertainment attracts visitors from around the globe. MGM and Bruno’s partnership is longstanding and rooted in mutual respect. Any speculation otherwise is completely false; he has no debt with MGM. Together, we are excited to continue creating unforgettable experiences for our guests.”
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