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DJ David Guetta performs at Encore Beach Club in the Encore on Sunday, May 27, 2012. The crowd included DJ Tiesto (pictured here, left, with Guetta), Lil Jon, Reggie Bush and AdriannaCosta.

By Robin Leach (contact)

Sunday, Dec. 23, 2012 | 11:55 a.m.

Courtesy

DJ Avicii and Jason Strauss at the first anniversary of Marquee on Jan. 2, 2012.

Following up on the story we posted Thursday about the new DJ wars in Las Vegas and the mind-boggling megabucks contracts comes news that MGM Grand intends to throw its own Electronic Dance Music festival.

And those numbing numbers of $20 million over two years I reported for the spinmeisters of steel were apparently on the low side! Thanks to my pal David Morris at DailyFiasco.com for helping update our first revelations.

The news I uncovered was apparently set to be revealed at the Grammy Awards in February, with two of Hakkasan at MGM Grands new resident DJs performing. Daily Fiasco is reporting that MGM Grand is partnering with Angel Management Group for a series of EDM arena concerts that will feature the new Hakkasan stars and include Tiesto, Steve Aoki and Calvin Harris alongside Deadmau5.

I apparently underreported the staggering Deadmau5 paychecks. Yes, it is a two-year deal with his shows earning him $425,000 each -- with sometimes two a day, at Wet Republic and Hakkasan, and in the MGM Arena for an astonishing $850,000.

The rest is here:
Megabucks DJs update: More star names (Avicii, Tiesto, Guetta); a possible EDM festival at MGM Grand