Mariah Carey just got a lot richer and her fans are much happier since she announced her own Las Vegas residency.

According to TMZ, Mimi will be taking over for Celine Dion as the artist in residence at the Colosseum inside Caesars Palace. Dion will take a sabbatical to care for her sick husband and will return no later than early 2016.

At one time, only older singers and performers were associated with Las Vegas residencies, but the tides have changed and younger, more contemporary artist like CeeLo Green have been performing nightly gigs in Sin City.

A few years ago, Kanye West turned down a $4.5 million offer to perform in Las Vegas for a total of nine days.

As far as the money Carey will make, she easily stands to pull in at least $500,000 a show, considering Britney Spears makes $475,000 each times she performs. The R&B diva's hardcore fans will obviously flock to see her perform -- the set will consist of 18 of Mariah's No. 1 hits. Hitting the stage is nothing new, but she's still a bit nervous.

"This is a special event for me," she stated on 'The Ellen DeGeneres Show.' "And again, I have to hope that the fans will enjoy this cause I'm gonna be performing, which was kind of inspired by my album No. 1's, and this is now the updated version with 18 of them. Hopefully, other people will enjoy this. I've never done this before."

Dates will be announced in the coming weeks.

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