Bruno Mars, the renowned singer-songwriter might be facing some trouble with MGM Resorts International, a major player in the hospitality industry.
Bruno Mars allegedly owns $50 Million debt to MGM; Reports
Back in 2016, Bruno Mars entered into a multi-year residency agreement with MGM, slated to perform regularly at the Park MGM resort in Las Vegas. However, recent developments suggest that this once-promising partnership has soured. According to NewsNation, Mars has reportedly lost a lot of money—over $50 million—while gambling at MGM’s poker tables in Las Vegas.
A source close to the matter reported to News Nation, that Mars has purportedly accumulated over $50 million in gambling losses at MGM, and that they pretty much control him now. The source said, “He owed millions to the MGM.”
They further added, “[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. [He will] only make $1.5 million per night after taxes.”
Part of Mars’ deal with MGM included opening a lounge called The Pinky Ring at the Bellagio Resort, and there are reports of more projects in the works.
Bruno Mars’s previous history of gambling
Mars’ history with gambling dates back to his pre-fame days, as he recalled in a 2013 GQ interview about his experiences at the Commerce Casino in Los Angeles.
In an interview from 2013, Mars talked about his early days of gambling, saying “I used to be like a loudmouth,” he added, “You know the guy, people would want to take his money. If you do get them to lose, they’re out for you, they’re gunning for you. And that’s when they’re weak. And that’s when you jump or pounce on them.”
He continued to detail his first major loss of a hundred million saying, “I remember my first bet, my hand was shaking, and a guy called me out on it and embarrassed me, you gotta lose. You just have to lose to win, to understand.”
Check out the video starting from the 13-minute timestamp here:
During a Carpool Karaoke episode for Late Late Show with James Corden in 2016, Mars hinted that he used to make money to pay rent by playing cards in Los Angeles.
Despite his successful residencies in Las Vegas, it seems Mars’ upcoming shows at Park MGM might be more about settling his debts than meeting fan demand.
