In 2016, Bruno Mars revealed a multi-year residency agreement with the MGM conglomerate, committing to perform at the MGM resort in Las Vegas. However, recent reports suggest that the singer is facing financial challenges, allegedly accruing a multimillion-dollar gambling debt with the casino.
A source who spoke to NewsNation claimed,
“He owes millions to the MGM (from gambling).” His debts have gotten as high as $50 million,” the source added.
“(MGM) basically own 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).”
If we calculate, its easier to understand that 90 million after taxes is about $60 million.
In 2016, the president of MGM Resorts International expressed enthusiasm about the partnership with Bruno Mars, stating,
“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.”
However, recent developments suggest a financial strain, with reports indicating significant debt owed to the casino.
The “24K Magic” singer once supplemented his income by playing poker, as noted in a 2013 GQ interview, but ultimately focused on his music career, dedicating his life to the industry.
“I used to be like a loudmouth. 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,” Mars said at the time.
“And that’s when they’re weak. And that’s when you jump or pounce on them.”
He also elaborated on what it was to visit the casino for the first time when he was 19 years old:
“I remember my first bet, my hand was shaking, and a guy called me out on it and embarrassed me,” he said, while revealing he lost some money he did could not loose. “You gotta lose. You just have to lose to win, to understand.”
