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Britney Spears offered $12 million to extend residency

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Britney Spears is close to extending her Las Vegas residency.

The 'Perfume' singer, whose show 'Piece of Me' at Planet Hollywood Resort & Casino has been a huge success, has reportedly been offered $12 million to continue performing until 2016.

According to New York Daily News, the pop star is close to securing a deal with Ceasers Entertainment, the parent company of Planet Hollywood, to stay on at the venue.

Ceasers Palace President, Gary Selesner, said: "Britney Spears has been a great success for the company and will be extended, if she wants to do it, and I cannot see why not.

"She has been filling the place every night, and she is enjoying it and is in good health."

The 32-year-old star was scheduled to perform 50 shows per year in 2014 and 2015 as part of the initial deal, earning her an impressive $30 million, and Gary admitted it was a "gamble" in the beginning but he is now happy with how popular the show is and wants her to return for further dates.

The show, directed by Baz Halpin, runs for 90 minutes and began on December 27 at the 4,600-capacity Axis theatre, which is booked by Live Nation.

Stars including Miley Cyrus, Lady Gaga, Selena Gomez and Katy Perry are among those who have been to see Britney's popular show, which celebrates her career in music.

It has also been reported that 'Piece of Me' is outselling Elton John and Celine Dion's Las Vegas shows.

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