Police say three people are dead and at least three more are hospitalized after two vehicles engaged in a "rolling gun battle" early Thursday morning right on the famous Las Vegas strip.

One of the vehicles involved in the shootout is still at-large. As a result, four other vehicles crashed, including a taxi that

burst into flames, killing the driver and a passenger.

11:00am ET UPDATE: We've now obtained new video of eyewitnesses reporting what they saw this morning. One man, who did not want to be shown on camera, saw the crash and rushed to pull a man out of the Maserati. Another man heard the shots and witnessed the aftermath from his hotel room window.

10:40am ET UPDATE: FOX Las Vegas reporter Dave Lawrence just reported that the incident may not have been a gun battle after all, as police first stated. Rather, investigators now believe the Maserati was targeted by the SUV.

10:10am ET UPDATE: Jose Hernandez of Las Vegas Metropolitan Police says authorities are looking for a black Range Rover Sport with large black rims. The vehicle has a "dealership advertisement plate." It was occupied by multiple black males at the time of the shootout.

9:50am ET UPDATE: Bill Hemmer just spoke to local FOX Las Vegas reporter Dave Lawrence on America's Newsroom. Lawrence said police have not yet released a description of the suspect's vehicle that got away. At least five cars were involved in accidents when one of the suspects ran a red light on the busy strip.

A taxi burst into flames, killing the driver and a passenger. The wreckage (in the photo above) is located at the intersection of Las Vegas and Flamingo Boulevards.

Watch Lawrence's report:

Stay tuned to Fox News Channel for more on this developing story.

Watch police describe the chaotic series of events:

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