Madonna 'offered $1bn Vegas residency'

Madonna could earn $1 billion if she agrees to sign a five-year Vegas residency deal, reports say.

The singer is said to be in talks with promoters which would see her follow in the footsteps of other Vegas acts including Elton John, Celine Dion and Cher.

Metro reports that the deal would push the 'Hung Up' star up the list of the highest paid female entertainers in the world to third position, behind Oprah Winfrey and Martha Stewart.

It is unclear whether the arrangement would conflict with her ten-year touring contract with Live Nation, signed in 2007 for a reported £80 million.

Earlier this year, it was reported that Madonna was planning a hip-hip tour after road-testing dancers at a nightclub in London's Mayfair.