According to a statement given to the Las Vegas Review-Journal on Monday, MGM Resorts International shut down rumors that the '24k Magic' singer Bruno Mars had accumulated a $50 million gambling debt, using various business arrangements with the company and its Las Vegas properties to settle his balance.
Rumors of Mars' debt sparked on March 14 when multiple sources reported that MGM "basically owns" the 38-year-old due to his $50 million worth of gambling debt.
MGM Addresses Mars' Gambling Debt
The company said that claims that it has Mars on the hook for millions were "completely false," adding, "We're proud of our relationship with Bruno Mars, one of the world's most thrilling and dynamic performers."
MGM said it celebrated Mars' work on the new Pinky Ring cocktail lounge at Bellagio and his residency at Park MGM. Mars' brand of entertainment attracts visitors from around the globe, and MGM and Mars' partnership is longstanding and rooted in mutual respect.
"Any speculation otherwise is completely false," it continued. He has no debt with MGM. Together, we are excited to continue creating unforgettable experiences for our guests."
A source claimed that he makes $90 million a year off of the deal he did with the casino, but then he has to pay back his debt. The source added that the singer takes home around $1.5 million a show after taxes.
Over the years, Mars has shown his love for the card table several times.
In a 2013 interview with GQ, he discussed his anxious experience of losing $100 on his first bet at the age of 19. He told the magazine that people just have to lose to win to understand.
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Fans Defend Mars on Social Media
As expected, the rumor caught some fans off guard. One fan commented on X, formerly Twitter, asking, "Now, who woke up and said let me spread fake gossip about Bruno Mars."
Some saw his lyrics as alluding to the story, and one user even commented, "I mean, Bruno Mars did say he was a dangerous man with some money in his pocket."
After relocating to Los Angeles, Mars has been transparent about using his card games to pay his rent. In 2016, he told James Corden that he did it "for a little while."
However, the Grammy winner has revealed the key to his success now that he has achieved great success for himself.
Mars told CNBC 'Make It' in 2023 just to be honest about whatever you are doing, and he noted that has become the most important thing for him in his career.
He added that when writing a song, he makes sure that this is the best he can do, deep down his soul, and that he did not take shortcuts.
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