Jennifer Lopez’s highly anticipated $90 million Las Vegas residency may be hanging by a thread as her latest album and concert tour struggle to gain traction.
The star’s deal, which promised $1 million per show for 90 dates, is now facing uncertainty due to disappointing ticket sales for her just-canceled concert tour and a lackluster album performance.
All of this is happening while rumors swirl about a possible divorce from her current husband, actor Ben Affleck.
A Shaky Deal
Lopez, who recently released her album “This Is Me… Now,” had been in advanced discussions with MGM Grand for a lucrative residency starting next year. The New York Post reports sources close to the situation say MGM had offered the pop diva a staggering $1 million per show, with rival bids from Resorts World and other major players. However, poor sales for her current tour and the underwhelming reception of her album have caused casino executives to reconsider, the Post reported.
“It’s pretty rare you have a poor tour and then go to Vegas,” the purported insider told the Post.
Concert Tour Woes for Jennifer Lopez
The “Let’s Get Loud” singer’s first tour in five years has not met expectations. Abysmal ticket sales forced the cancellation of seven shows this summer, a significant blow to the 54-year-old entertainer’s plans. And on May 31, the star announced she was canceling the entire tour to spend more time with her family.
Live Nation announced that the singer’s This Is Me… Live tour is canceled because Lopez is “taking time off to be with her children, family and close friends.”
She released a statement on her OntheJLo website, saying, “I am completely heartsick and devastated about letting you down. Please know that I wouldn’t do this if I didn’t feel that it was absolutely necessary.”
The tour was to run from June to August to support the “This Is Me…Now” album.
J.Lo’s Declining Star Power
The uncertainty surrounding Lopez’s residency comes amidst reports of a troubled marriage with Affleck. The couple has been rarely seen together in recent weeks, further fueling speculation about Lopez’s stability. Moreover, her latest album was the worst-selling of her career, and a companion film on Amazon Prime Video was roundly panned, Forbes reported.
The entrepreneur self-financed her three-part media extravaganza — the album and two movies — to the tune of $20 million.
MGM executives might be wondering if Lopez can fill the 5,200-seat Park Theater, especially as she struggled to sell tickets for her tour stop at the 19,500-seat T-Mobile Arena.
A Possible Financial Hit for Jennifer Lopez
If the deal does go through, Lopez might have to settle for a significantly reduced payout, estimated between $600,000 and $650,000 per show, The Post reported. This would be a substantial cut from the initial $1 million offer. Lopez and her manager, Benny Medina, have been working on the deal since February, The Post reported.
MGM is currently paying Mariah Carey $500,000 per show.
Adele earned a record-breaking $2 million a show at Caesars Palace.
Lopez has previously enjoyed success in Vegas. Her Planet Hollywood residency from 2016 to 2018 grossed $101.9 million, making it the sixth-highest Las Vegas residency of all time, Billboard reported. She got a guaranteed $500,000 per show.
Despite the setbacks, Lopez remains undeterred as she is already focused on her next project, a new adaptation of “Kiss of the Spider Woman.”
