Pop superstar Britney Spears has landed a huge deal to become the highest paid entertainer on the Las Vegas Strip.

And DailyMail.com can reveal that the Toxic singer has thrashed out a new residency contract, which will see her bank a staggering $507,000 a show.

Currently songstress Celine Dion is Sin City's highest paid performer thanks to her deal of $476,000 per night.

However, pop princess Britney is leaving her AXIS auditorium at Planet Hollywood home for the Park Theater, just a few hundred meters south on the famous Strip.

Her new show will start next year at the MGM owned 5,200 seat venue at the Monte Carlo resort and Britney has already teased a 'big announcement' on the Ellen show last week.

Britney Spears has inked a new Las Vegas residency deal and will bank a staggering $507,000 a show, making her the highest paid entertainer on the Strip

While other stars have earned more for one off shows at conventions and private parties in Vegas, the deal worth $507,000 per night is the largest pay out for a long term resident performer.

It's expected Britney will make an announcement on Thursday to tie in with the 20th anniversary of her debut hit Hit Me Baby One More Time released in October 1998.

Britney's team spent six months thrashing out the deal to secure the lucrative deal, which is understood to have an initial two year run.

Her previous employers Caesars Entertainment decided not to renew her deal at Planet Hollywood after a four year run for her Piece Of Me residency.

Britney, 36, was banking $400,000 a show by the time it came to an end last Christmas - but her handlers felt her astonishing profit margins meant she should command more.

Now MGM execs feel the extra money is worth it to make the mom-of-two a strong addition to their roster, which features Cher, Aerosmith and Ricky Martin.

The 36-year-old's new contract beats out Celine Dion's deal, who until now was Sin City's highest paid performer making $476,000 per night

A source told DailyMail.com: 'The money seems astronomical, but it is a fair price for a woman who has a proven track record of selling out shows here'

Britney just finished a hit summer tour of her Piece Of Me show, a Vegas source told DailyMail.com: 'Britney is becoming the highest paid resident on the Strip. It is a huge deal and will be great news for her fans.

'This month is the 20th anniversary of her debut release and it feels like the best time to make this announcement.

'She loves performing in Vegas, being able to please her fans and juggle her family life with her boys. This deal has been many months in the making.

'The money seems astronomical, but it is a fair price for a woman who has a proven track record of selling out shows here.

'On top of that she will be promoting the casino and doing club appearances for the company, which on top of the PR value of her name globally is pretty strong.'

The source added: 'Britney is already working on new routines so that the show differs from Piece Of Me. She is committed to making this bigger and better than her last run.'

It's understood that Britney had a 12 month non-compete deal with Caesars, which means she can technically start her new show on January 1, 2019.

A source told DailyMail.com: 'She loves performing in Vegas, being able to please her fans and juggle her family life with her boys.' Pictured: Spears with her sons Sean and Jayden James

'But realistically the show won't likely start until the Spring,' the source said.

Britney was a massive money spinner on the Strip when her show opened on December 27, 2013 with an average ticket price of around $150.

In 2017, Piece Of Me was ranked the 2nd highest-grossing female show of the year in North America with a total gross of $38.9 million.

Overall, Britney: Piece of Me grossed $137,695,392 with 916,184 tickets sold in 248 shows, according to Caesars Entertainment.

Britney is set to appear at Toshiba Plaza at the front of T-Mobile Arena on Thursday night.

The event will be broadcast live on Ellen DeGeneres’ YouTube channel and it's expected she'll announce her new residency during the show.

DailyMail.com has submitted requests for comment from MGM and reps for Britney.