Recent discussions for Jennifer Lopez’s anticipated $90 million Las Vegas residency deal have encountered a setback, as her latest album and upcoming concert tour are facing significant challenges, according to sources who spoke to The Post.
Initial talks with MGM Grand centred around a lucrative $1 million per show arrangement for 90 dates starting next year.
However, concerns have arisen due to dismal ticket sales for Lopez’s first tour in five years following the release of her “This is Me … Now” album in February. The poor demand has led to the cancellation of seven shows this summer.
Despite earlier reports suggesting potential deals with MGM and Live Nation, negotiations have encountered obstacles. Rival Casino Resorts World and Anschutz Entertainment Group (AEG) also entered the bidding, offering up to $875,000 per show before MGM and Live Nation offered $1 million per show.
However, with Lopez’s recent tour struggles and declining album sales, MGM Grand executives are reportedly apprehensive about proceeding with the lucrative residency deal.
Sources indicate that the Bronx-born star may need to accept a significantly reduced offer, potentially fetching $600,000 to $650,000 per show for fewer performances.
While no official deal has been confirmed, discussions between Lopez’s team and MGM Grand are ongoing. Representatives for Lopez and MGM declined to comment on the matter.
Lopez’s latest album marked the worst-selling of her career, and her concert tour ticket sales have been lacklustre.
Additionally, her personal life, including her relationship with Ben Affleck, has garnered attention amid rumours of turbulence.
Given the current challenges in ticket sales for her tour stops, the potential residency at MGM’s Park Theater raises concerns about Lopez’s ability to fill the 5,200-seat venue. Several dates, including those in Atlanta, New Orleans, and Houston, have already been cancelled.
Despite past success with a residency at Caesars Palace, where she grossed over $101.9 million, recent developments suggest a more cautious approach from MGM in light of Lopez’s current circumstances.
While Lopez remains a formidable talent, the uncertainties surrounding her career trajectory raise questions about the future of her highly anticipated Las Vegas residency.
