American superstar Bruno Mars allegedly owes $50million (£39million) to MGM Grand Casino in gambling debts.

‍

Although Mars is approaching the ninth year of his Las Vegas performance residency, it has been reported that he is paying off his debts to MGM.

‍

According to a Vegas insider, the 24k Magic singer "owes millions" to MGM due to his gambling activities, adding that they "basically own him,".

‍

The source gave insight into Mars' earnings, alleging that he makes $90million off his residency deal with the casino, however, after paying off his debts and taxes, his take-home pay is around $1.5million per night.

‍

Representatives for both MGM Grand Casino and Bruno Mars have been contacted for their sides of the story, but neither have yet responded.

‍

Mars is not the first artist to find himself in this predicament, as the king of rock'n'roll himself, Elvis Presley, shared a similar fate.

‍

Presley's crooked manager Colonel Tom Parker owed over $30million to the Las Vegas Hilton.

‍

According to Luxury London, Parker's gambling habits were so problematic that Nevada residents began to say his money was worthless.

‍

Parker also negotiated a bogus deal with the Hilton Hotel group for Elvis to perform a 7-year Vegas residency, performing two shows a night seven days a week. Elvis ended up playing a total of 636 shows for them.

‍

The contract also meant that Parker would receive 50% of Elvis' profits, however, what he failed to realise was that the hotel chain now owned him and Elvis.

‍

The majority of the money Parker ripped off from the Viva Las Vegas singer went to the Hilton to pay off his gambling debts, and Parker remained as an employee for the Hilton up until his 1997 death.