Starting today (June 15th, 2010) and running until July 6th, 2010, Virgin Gaming wants you to race hard in ModNation Racers. Make your way up the leaderboards in that time frame, and if you’re in the top 128 players you’ll be entered into a tournament with 127 of your fellow mods to race for a round trip to Vegas with $500 in spending cash. Also up for grabs are a 40” Sony BRAVIA TV, A PSP Go+MNR downloadable bundle, and a PSP 3000 ModNation Racers Hardware Bundle.

To get a shot at the prizes all you need to do is register at Virgin Gaming’s newly launched site, and enter your tournament code at the ModNation Racers Tourney site.