Bruno Mars reportedly owes MGM Casino $50 million in gambling debt and is in the midst of a financial crisis, according to NewsNation on Thursday.
The famous artist with chart-topping hits is reportedly an experienced gambler who racked up millions of dollars in debt at the gaming tables, with sums as high as $50 million coming from the hallways of Vegas. NewsNation reported that there are whispers that the amount could reach a staggering amount.
Bruno Mars is said to have racked up more than $50 million in gambling debts at MGM in Las Vegas.
“MGM basically owns him,” NewsNation reported. “He makes $90 million a year from his casino contract, but after that he has to pay off his debts. [He will] You can only make $1.5 million… pic.twitter.com/xPxgXzgDjV
— No Jumper (@nojumper) March 17, 2024
“He owes MGM millions of dollars (from gambling). (MGM) is basically his property,” a source told NewsNation. “He makes $90 million a year on his casino contract, but then he has to pay off the debt…after taxes (Mars’ income is $1.5 million per night).”
Mars reportedly partnered with MGM in 2016, offering perks such as free nights during the contract, but his financial obligations will have a major impact on his bank account, the paper said. . MGM continues to invest in Mars, opening a Pinky Ring lounge at the Bellagio during the Super Bowl, and rumors of new collaborations with entertainers are also in the works. Representatives for both MGM and Mars did not respond to requests for comment, NewsNation reported. (Related: Super Bowl gambling is breaking records and destroying previous records — not even close)
LOS ANGELES, CA – MARCH 22: (Editorial use only) Bruno of Silk Sonic on stage at the 2022 iHeartRadio Music Awards held at the Shrine Auditorium on March 22, 2022 in Los Angeles, California. Mars wins Best Duo/Group of the Year. Broadcast live on FOX. (Photo by Rich Fury/Getty Images for iHeartRadio)
The “Treasure” singer previously said he frequented the Commerce Casino in Los Angeles before he became famous. He shared his memories of his first visit to a casino when he was 19 years old.
“I used to be a shouter. You know, people are going to want to take his money. If you let them lose, they’re after you, they’re after you. There are,” he said. Said GQ in 2013. And that’s when you jump on them or jump on them. ”
“I remember my first bet. My hands were shaking,” he recalled. “A guy called me out on it and it embarrassed me.” According to GQ, the singer reportedly lost $100, an amount he couldn’t afford. He said he should never have participated in gambling in the first place. “You just have to lose. You just have to lose to win, and you just have to lose to understand,” he added.
