Britney Spears is taking a gamble and committing to a two-year residency in Las Vegas.

Today, Spears announced on ABC's "Good Morning America" that she will spend two years at Planet Hollywood Resort & Casino starting Dec. 27. The residency will be titled "Britney: Piece of Me."

"We wanted the environment to be that way so people could come and have a good time and stand up and feel like they're in the show with me," Spears said during the interview.

Only 16 dates have announced thus far, but Spears, 31, will perform 50 shows in 2014 and 50 shows in 2015.

"I love Vegas," Spears said. "The energy here is really, really good."

The "I Wanna Go" singer will perform both new songs and her classic hits such as 1998's "...Baby One More Time. Her announcement comes after months of rumors that she would begin such a concert series.

Spears has been practicing five hours a day in preparation.

"I'm definitely ready," Spears said.

Spears made the announcement from her future home of Nevada. She arrived via helicopter, and over 1,000 fans were present who carried signs that formed a picture of her.

"This is such a sweet thing to do," Spears said, surprised by the number of fans. "I don't even know what to say. I'm speechless. This is shocking."

Tickets for "Britney: Piece of Me" will be available starting Sept. 20. At 10 a.m. PST. Ticket prices begin at $59 and go as high as $179.

On Dec. 3, Spears' eighth studio album will be released, featuring her latest single, "Work Bitch" and songs about her breakup with four-year-long boyfriend and ex-fiancé, Jason Trawick.

"During this album, I had a breakup with Jason that I went through that I wrote a lot about," the singer said. "Breakups suck, man! They do."

Spears was also asked when her first kiss was during the candid "Good Morning America" interview.

"Oh, my god. Maybe 13?" Spears said. "It was Justin [Timberlake]."

The pop legend also briefly discussed singer Miley Cyrus' generally negatively-viewed performance at this year's MTV Video Music Awards.

"I think any time you do a performance that is memorable, you're going to have criticism," Spears said. "I think she's doing her thing, being herself. So I give props to her."