Tourism officials and Orlando Magic executives told Orlando's City Commission that their investment in the new Amway Center is beginning to pay off, with the promise of even more big events to come.

A press conference discussing the NBA All-Star weekend correlating with the Daytona 500 was held Monday.

The All-Star weekend runs Feb. 23-26, with a majority of the events being held at the Orange County Convention Center.

Roughly 250,000 people will pack Daytona International Speedway for the Daytona 500 on Feb. 26, while another 50,000 will be at NBA All-Star weekend events

The simultaneous sporting events are expected to bring in more than $300-million to the local economy.

In addition to the economic boost, with Central Florida appearing on numerous TV channels that weekend, organizers said it will show the world there's even more reasons to visit than just the theme parks and the beaches.

"When you have an event like this viewed in 215 countries, you can't pay for that kind of advertising, that would cost you billions of dollars," said Gary Sain, CEO of Orlando/Orange County Convention & Visitors Bureau.

Orlando Magic CEO Alex Martins said that hosting the All-Star weekend shows the new Amway Center’s worth and it shouldn’t stop there.

"We can get on a regular rotation of attracting these major sporting events to the point we could get $100-million of economic impact every year out of our sporting facilities," Martins said.

NBA and NASCAR have been working with FBI and Department of Homeland Security to ensure the public’s safety.

Meanwhile, transportation officials in Volusia and Orange counties have been coordinating with each other to ensure there are no logistical problems hosting both events.