Three others were injured as the shootout morphed into a multi-vehicle wreck.
Fox5Vegas reports that the shooting took place near Las Vegas Boulevard outside Bally's Casino at about 4:30 a.m., as the drivers of both cars began to exchange gun fire.
The Maserati then struck a taxi cab, causing the taxi to spiral out of control and burst into flames, killing both the driver and the passenger, said Fox5. The driver of the Maserati was killed as well.
This afternoon, police said they believe the shooting erupted after an earlier altercation at a hotel, the Associated Press reported.
Three other vehicles were involved in the incident, and four people were taken to University Medical Center in the city, writes the Associated Press, which added that the affected intersection will remain closed as police investigate the incident.
"There was a loud bang and I heard two other booms. I looked out my window at Caesars Palace ... and could see a fireball," said witness John Lamb to 8NewsNow. The driver of the SUV managed to flee the scene, says 8NewsNow, and police are looking for a black SUV with tinted windows and dark rims.