Jennifer Lopez was recently in negotiations for a $90 million Las Vegas residency, but the blockbuster deal is now in jeopardy after her new album and upcoming concert tour have flopped, The Washington Post has learned.
The troubled pop singer, whose high-profile marriage to Ben Affleck is reportedly falling apart, was in recent negotiations with the MGM Grand for 90 shows starting next year at a guaranteed $1 million per show, a source familiar with the situation told The Washington Post.
But casino executives have grown increasingly worried in recent days about dismal ticket sales for the band’s first tour in five years, which began in February with the release of the album “This Is Me…Now.” Weak demand has forced the cancellation of seven shows this summer, sources said.
The Las Vegas deal has yet to be announced. The Mirror reported on February 2nd MGM partnered with Live Nation to offer performance fees of more than $800,000 per show.
Rival casino Resorts World soon after partnered with Anschutz Entertainment Group (AEG) and upped its bid to $875,000 per show, according to sources.
MGM and Live Nation then offered the “Let’s Get Loud” singer $1 million per show, but recently began to feel regret, the first source said.
“MGM has seen her not doing well on tour and they’re very nervous,” the source said. “It’s pretty unusual for her to have a bad tour and then go to Las Vegas.”
The Bronx-born star may be forced to take a significant cut from her $90 million salary. Sources say the film is expected to fetch only $600,000 to $650,000 and will have fewer showings.
A second source familiar with the negotiations with MGM said no deal has been signed but discussions are continuing.
Representatives for Lopez and MGM declined to comment.
Lopez’s latest album was the worst-selling of her career, her accompanying movie on Amazon Prime Video was panned, ticket sales for her upcoming concerts next month are sluggish, and her relationship with Affleck appears to be in crisis.
The couple have rarely been seen together in recent weeks, and he was absent from Friday’s Netflix premiere of her new film “Atlas,” which The Washington Post gave one star.
MGM executives are concerned about Lopez’s fading star power and whether she can fill the 5,200-seat Park Theatre to justify the big financial outlay, the sources said.
Lopez is struggling to fill the 19,500 seats at T-Mobile Arena in Las Vegas, where the tour stops July 20, with a third of the pricey floor tickets and plenty of cheaper options still available for around $65. Ticketmaster Shows.
Seven tour dates have been canceled, including Atlanta, New Orleans and Houston. Variety reported.
The Live Nation-produced tour will conclude at Madison Square Garden in New York City on Aug. 17, with the permanent residency scheduled to begin about six months after the tour ends, the first source said.
Sources say J.Lo and her manager Benny Medina began scouting Las Vegas venues even before the singer announced her new album and related film on Feb. 16.
Lopez has been a hot prospect for casinos in the past: Caesars paid her a guarantee of about $500,000 per show for 120 permanent shows at Planet Hollywood from 2016 to 2018.
It grossed $101.9 million, making it the sixth-highest grossing permanent show of all time in Las Vegas and the highest grossing permanent show by a Latino artist. Billboard.
MGM is only paying Mariah Carey $500,000 per show for her current residency, and if it were to pay Lopez double that amount it would be on par with recent deals it has made with Bruno Mars and Lady Gaga.
Adele made a record-breaking $2 million for her performance at Caesars Palace, The Washington Post exclusively reported last year.
