Britney Spears' residency boosts Planet Hollywood's yearly earnings by $20M

LAS VEGAS, Oct. 16 (UPI) -- Britney Spears's Piece of My residency in Las Vegas' Planet Hollywood Hotel was extended through 2017 earlier this year, and new reports detailing the show's overall impact on the hotel give a good explanation as to why.

Financial insiders revealed the singer's shows have increased Planet Hollywood's yearly earnings by "about $20 million," according to the Las Vegas Sun.

"Wall Street gaming experts say the pop princess has revitalized the property and helped turn its one-time dismal financial picture into a real profit center," reports the Sun.

Spears began her two-year residency at the resort and casino in December 2013 and was expected to perform until December of 2015. In May, however, the signer was offered $12 million to carry on with the show until 2017.

While addressing the extension in an interview with Good Morning Britain in September, the "Work B**ch" singer said the gig's "consistency" was "really grounding."