Reportedly, American sensation Bruno Mars is purportedly facing a staggering $50 million (£39 million) debt to the MGM Grand Casino stemming from his gambling ventures, despite nearing a decade into his Las Vegas residency.
Insiders from Vegas allege that the “24k Magic” performer owes a substantial sum to MGM due to his gambling endeavours, suggesting that the casino essentially holds considerable leverage over him.
Details on Mars’ earnings emerge, indicating that he rakes in $90 million from his residency contract with the casino. However, after settling his debts and taxes, his net earnings hover around $1.5 million per performance.
Efforts to obtain statements from representatives of both MGM Grand Casino and Bruno Mars remain fruitless as neither party has responded thus far.
Mars joins a lineage of artists encountering such financial difficulties, reminiscent of the legendary Elvis Presley’s own challenges. Notoriously, Presley’s manager, Colonel Tom Parker, found himself indebted to the tune of over $30 million to the Las Vegas Hilton due to his gambling habits.
Parker’s mismanagement extended to securing a dubious deal for Presley’s seven-year residency at the Hilton, where he would pocket half of the profits, ultimately relinquishing significant control to the hotel chain. The bulk of Parker’s ill-gotten gains went toward settling his debts, effectively tethering him to the Hilton until his passing in 1997.
