“24K Magic” singer Bruno Mars allegedly has a $50 million gambling debt with his partners at Las Vegas’ MGM Casino — part of MGM Resorts International. A source told NewsNation that the 38-year-old singer is now “basically owned by MGM.”
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NewsNation reports that Bruno Mars — who once supported himself as a professional poker player — might be indulging in his MGM partnership a little more than he should be. One Las Vegas insider told the publication that the 15-time Grammy Award-winner has been known to rack up large debts at the poker tables and more.
To note: during his December 2016 appearance on ‘Car Pool Karaoke‘ on the ‘Late Late Show with James Corden,’ Bruno Mars admitted that he used to play cards “for a little while” to pay the bills when he first moved to Los Angeles in pursuit of a career in entertainment. In August 2013, Star Magazine even shared a headline that Mars “played poker for 3.5 hours at a casino.”
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Recently speaking with NewsNation, a source alleged, ”[Bruno Mars] owes millions to the MGM [from gambling]. His debts have gotten as high as $50 million. [MGM] basically owns him.” The source continued, “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 the casino’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 signing the multi-year contract back in 2016.
At the time, Bruno Mars and MGM Resorts International shared a press release, where Bill Hornbuckle, president of MGM Resorts International, said, “Bruno is among the most talented performers in the world and we are excited to start a long-term relationship with him across our industry-leading portfolio of entertainment venues. There is no stronger launching pad for a new venue than for Bruno Mars to be among the first to grace its stage, and we get to do it twice, an amazing beginning to a multi-year partnership.”
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Regardless of the alleged million dollars worth of debt that Bruno Mars has racked up gambling, it’s reported that MGM remains ten toes down for the singer as they continue to expand their business with him.
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.
Months ahead of the debut of The Pinky Ring, MGM shared a press release speaking more about the lounge. In the release, Bruno Mars shared a statement that read, “I’ve been performing in Vegas for years, and I’ve always wanted a place where I could throw glamorous parties when I’m in town. A place that felt like my personal penthouse suite, with live music and sensational cocktails. The Pinky Ring is that.”
Meanwhile, Ari Kastrati, MGM Resorts International’s’ Chief Hospitality Officer, said, “There’s nobody in the world as fabulous as Bruno Mars. It’s been a fun experience to let him take the reins to reimagine this space. From the carpet to the ceiling, this is all him. As we celebrate Bellagio’s 25th anniversary this year and look toward the future, collaborating with one of the entertainment industry’s biggest stars to reimagine what a night out in Las Vegas should be represents an incredible moment in this resort’s story.”
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