The Clark County Commission on Monday unanimously approved plans to auction 2.3 acres at Harmon Avenue and the Strip.
A July 24 sale date has been set for the parcel that sits just south of the Aladdin hotel. Bidding will begin at the appraised price of $20 million.
A group called Voyager LLC will be one of the bidders. It plans to build an $80 million, 518-foot thrill ride on the site.
A similar attraction in London built by British Airlines attracted 4 million customers in its first nine months of operation.
Voyager and its attorney, Frank Schreck, have been working on the project with the county. The company faces a July 31 financing deadline. It is requesting that the auction take place by the end of July.
The successful bidder will be required to put down 10 percent and come up with the remainder in 90 days.