A formerly quiet, sprawling tract of land near the Strip is becoming a Formula One racetrack and the owner of a rental property next door is looking to sell for a hefty sum.
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More than a year before the Las Vegas Grand Prix, some hotel operators have already started charging hundreds of dollars more than a typical weekend fare.
Crowds during the race will likely be massive. As seen Friday on Hotels.com, dozens of hotels in the Las Vegas area are sold out that weekend.
In addition, Madison Square Garden Entertainment executives also announced they are negotiating a partnership with Formula One.
Millions of dollars are spent every year by the Las Vegas Convention and Visitors Authority on sponsorships designed to bring even more money into the city.
The Las Vegas Convention and Visitors Authority board of directors agreed to pay $6.5 million a year over three years to bring the Grand Prix to the resort corridor.