For many in the world of poker, it is possible to rack up a monster debt in a short amount of time (most people, however, don’t). This extends from those who scrape together a couple of buy-ins for a tournament to those who have massive bankrolls – or do they (this is the Tom Dwan Dilemma)? If reports are accurate, then pop superstar Bruno Mars could be very deep in debt to a Las Vegas casino – and it could be the catalyst for his residency in their casino.
HOW MUCH Is Mars in Debt For?
According to several outlets, including NewsNation and Yahoo! Entertainment, Mars’ longtime relationship with the Park MGM has been mutually beneficial. Eight years ago, Mars took up residency at the Park MGM Las Vegas, reportedly at $90 million annually. Herein comes the problems for the “24K Magic” vocalist – he has a propensity for gaming and much of the money he has made from his residency has gone right back into the MGM coffers.
Mars, who has made no qualms about enjoying the game of poker, is reportedly as much as $50 million in arrears to MGM. If the reports are true, that means that a great deal of his yearly income, after taxes (roughly $30 million), goes right back to MGM to pay off his gaming debts. Neither MGM nor Mars is willing to comment on the issue, however.
How does a player get that deep in debt? It is easy, especially if you’re employed by the casino in some manner or you are a “whate,” or a high roller. Credit is often extended to these types of people, and it is usually done without any collateral provided by the player. The thoughts of the casino are that the player is losing the money back to them (and then having to pay the casino back for the marker) and it keeps the player away from other casinos.
Mars Banking on Musical Success
Bruno Mars is one of the biggest stars of the 21st century in pop music. In 2010, Mars’ CD Doo-Wops and Hooligans stormed up the charts, providing such hit songs as “Grenade” and “Just the Way You Are.” That album has been certified platinum seven times and it ignited Mars’ career as a musician and vocalist.
Mars’ 2012 release Unorthodox Jukebox brought a monster hit in The Police-esque sounding “Locked Out of Heaven,” and “When I Was Your Man” pushed him even further into the stratosphere. It was Mars’ collaboration with Mark Ronson on “Uptown Funk” that garnered many accolades for Mars and Ronson, including the 2016 Grammy for Record of the Year. Mars followed that success with the title track from 24K Magic, which earned Mars his second Grammy for Record of the Year.
Demonstrating his prowess in the music industry, Mars teamed up with Anderson.Paak to form Silk Sonic, who would go on to win four Grammy Awards in 2021 including Record and Song of the Year. In total, Mars has received fifteen Grammy Awards, seven Billboard Music Awards, and eleven American Music Awards (just as a quick sample).
Far be it for anyone to tell another person how to spend their money, especially if it is going into the poker community. Perhaps Bruno Mars should become a better player, however, to alleviate some of those losses.
