The newly proposed deal wants the 32 year-old singer to extend her residency until Christmas 2016.
Britney Spears could be staying in Las Vegas for longer than first thought.
The 32 year-old pop star has reportedly been offered a multimillion dollar deal to extend her residency at Planet Hollywood's Axis theatre, according to NY Daily News.
The casino's bosses apparently want Spears to stay until at least Christmas 2016.
Caesars Palace President Gary Selesner told Daily News "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 out the place every night, and she is enjoying it and is in good health," he added. "She has a good life, coming in on private jet."
Selener admitted the company took a "gamble" when signing Spears, but despite the fact that she has been caught lip-syncing throughout her 90 minute performances, people still flock to see the 'Toxic' singer.
"You just didn't know what was going to happen," Selesner told the newspaper "But the fans loved her. And she has so many fans from all over the world, that the support has been fantastic."
And it is believed that Spears will re-sign and accept the eight-figure offer to extend her residency.
"She has a good life, coming in on private jet," the venue's president added. "She has a villa upstairs at Caesars and really enjoys it here - so why wouldn't she stay?"
The former teen star signed a $30 million deal for over two years this past December (2013) and is now in a select group which includes the likes of Elton John, Celine Dion and Rod Stewart, who all had long term deals in the mecca of gambling.
This new deal is said to have offered Britney $12 million for a one year extension following the her show's success.
Spears has been offered a new deal worth $12 million