I drive by it Friday nite in the way to L-burg bike races. Looked bigger than 3/8 to me but it's just roughly cut in. My brother went to the drags Saturday nite and someone told him it was gonna be a test track but I'd agree that it seems like a lot of money & effort to play on.
If they do plan to hold events there I'd wish them the best of luck & I hope they realize what they are getting into, it won't be like the drag strip where basically open the gates and people line up to give you money and likewise the competitors will want paid at least a little.