Michael Jackson's Vegas residency

May 21, 2008, 10:00 GMT

Michael Jackson - Palm Beach International Film Festival Grand Gala Awards Ceremony - Palm Beach International Film Festival - Boca raton Resort and Club © Jay Kravetz / PR Photos

Michael Jackson is reportedly set to play a Las Vegas residency.

The 'Thriller' singer's Neverland ranch was recently saved from auction by Los Angeles-based investment company Colony Capital LLC, who also own the Las Vegas' Hilton hotel, sparking speculation Michael will perform there as part of the rescue package.

After confirming the payment issues surrounding his sprawling home had been resolved, Michael said that he was in discussions with the company founder Tom Barrack Jr. "with regard to the ranch and other matters."

It is being reported that "other matters" relate to contract terms for live performances.

Michael was set to lose Neverland after failing to meet payments on a $24.5 million loan.

The singer was offered a lifeline when the loan was sold to Colony Capital LLC .

Michael bought Neverland in 1997, with the intention of turning it into a "paradise for children".

In 2005, the singer was acquitted of sexual molestation relating to allegations of incidents that had taken place with a teenage boy inside his Neverland home.

The following year, authorities ordered the property to be boarded up after it was revealed Michael had not paid employees or kept up with insurance payments.

(C) BANG Media International