The billionaire mogul is said to have called time on their engagement, just nine months after popping the question

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Casino mogul James Packer has called time on his engagement to pop diva Mariah Carey, a new report claims.

Australian publication Woman’s Day reports that the 48-year-old billionaire split from Mariah over her “extravagant spending” and also claims that the pair had fought over her new reality show Mariah’s World.

The magazine also claims that James has agreed to let Mariah keep her 35 carat diamond engagement ring, reportedly worth a whopping $10million.

A source close to the family told the magazine: “It’s all over.”

James had huge reservations about Mariah’s new reality TV show and the fact that she was willing to expose their lives to the world.”

James and Mariah became engaged in January following a whirlwind romance.

The unlikely couple sparked sent the rumour mill into overdrive last year, after they were pictured holding hands in Capri.

The pair went on to enjoy several romantic holidays together – including spending Christmas in Aspen with her children – before the billionaire popped the question in New York in January.

Both James and Mariah have been unlucky in love before. The businessman has been wed twice before, to Jodhi Meares from 1999 to 2007 and then to Erica Packer from 2007 to 2013.

He has three children, Indigo, eight, Jackson, six and Emmanuelle, four, from his second marriage.

Mariah has also been wed before too. The pop diva was married to Tommy Mattola from 1993 to 1998 and Nick Cannon from 2008 to 2015. Mariah and Nick share twins Moroccan and Monroe, five.

The reports of Mariah and James’ split comes after the singer cancelled part of her South American tour citing promoter negligence.

In a tweet Mariah posted: “Devastated my shows in Chile, Argentina & Brazil had to be cancelled. My fans deserve better than how some of these promoters treated them.”

She added: “I love my lambs in SouthAmerica and will do everything I can to come in 2017 the proper way. Thank you for understanding. LYM, Te Amo MC.”