Vegas industry producers doubt Britney has what it takes to hold her own.
"My gut tells me she doesn't have the goods to deliver on a consistent basis," said Adam Steck, who has five shows in town and the upcoming Boyz II Men, reports LVRJ.
Steck believes the Vegas rumors are a "a big PR ploy" to distract audiences from her X Factor exit.
Steck added the $200 million deal "could add up if sweetened with other things like club appearances and merchandising deals. There's a rumor that Hakkassan (the Angel Management Group's nightclub in the works at MGM Grand) may be involved."
"You're rolling the dice. This is not Celine Dion," said Joey Battig, who tried to sign Whitney Houston to a Planet Hollywood Resort deal in 2009.
Rumors blazed last week claiming Britney signed a $200 million deal at Caesar's Palace's Colosseum, but insiders told BreatheHeavy.com it's not the case. All fingers point to Planet Hollywood's 7,000 capacity stadium instead.
"The beauty of that (Planet Hollywood Resort) room," said Battig, "is that you can curtain it off to 4,000 seats and expand if you sell more. I would bet they are guaranteeing her maybe half if she goes over 4,000."
"But I would only book her for Friday and Saturday. I think she would do 2,000 to 2,500 on a Friday or a Sunday; 4,000 on a Saturday."
It is thought Britney could receive $450,000 a night if she performs.
"I wouldn't guarantee her more than $150,000 a night, but I'd say, 'Roll the dice with me on the back end,' " Battig said. "We were guaranteeing Whitney $450,000 a night, three nights a week for a year. That's $1.3 million a week, $43 million a year."
That means Britney performs five shows a week for 32 weeks a year at an average ticket price of $150 to make $100 million, Battig said.
Battig thinks "it's a crap shoot" when it comes to signing Britney. A producer "has his head on the chopping block every night. If someone doesn't show up, you can give the (refunds) back, but you can't recoup those numbers."
Other costs most likely include $25,000 a night in rental for the venue, and $100,000 a week in advertising.
"Then you've got stagehands, lighting, sets, catering, limos, handlers and entourages. Pre-production on the show would be $1 million," Battig said. "Planet Hollywood has never done a big headliner because the risks are so high."
Sources connected to Planet Hollywood tell BreatheHeavy another problem in the bidding war is getting Britney to agree to sing live.
"I wouldn't take that risk."
He wouldn't, but many would and are.