Casino denies that Bruno Mars owes $50 million in gambling debt

It sounds like Bruno Mars can still afford to keep his 24-karat magic in the air.

Amid rumors that the Grammy-winning singer and songwriter owed $50 million in gambling debt at a Las Vegas casino, the establishment's parent company has come to Mars' defense and dismissed the chatter as "completely false."

In a statement provided to EW on Tuesday, a spokesperson for MGM Resorts International said, "We're proud of our relationship with Bruno Mars, one of the world's most thrilling and dynamic performers. From his shows at Dolby Live at Park MGM to the new Pinky Ring lounge at Bellagio, Bruno's brand of entertainment attracts visitors from around the globe."

The statement added, "MGM and Bruno's partnership is longstanding and rooted in mutual respect. Any speculation otherwise is completely false; he has no debt with MGM. Together, we are excited to continue creating unforgettable experiences for our guests."

The response came days after a NewsNation report quoted an unnamed source as saying that MGM "basically own[s]" Mars because of the millions in gambling debt he allegedly racked up. Claiming that the singer makes $90 million a year from his residencies at MGM, the source said Mars was using a large chunk to pay the company back.

Representatives for Mars didn't immediately respond to EW's request for comment Tuesday.

Known for such hits as "24K Magic," "Just the Way You Are," and "Uptown Funk," Mars has been performing Las Vegas residencies for more than a decade and currently has a multiyear partnership with MGM. His residency at Park MGM was extended in December, and he recently partnered with the Bellagio Hotel and Casino (a fellow MGM property) to launch his Pinky Ring cocktail bar and entertainment lounge, a venue that features live performances curated by Mars.

Mars' next string of Vegas performances will be at the Dolby Live at Park MGM, with dates spanning June through September.