Former New York City Mayor Michael Bloomberg will appear onstage at Wednesday’s debate in Las Vegas, three days ahead of the Nevada caucuses. The event marks the uber-billionaire's first time participating in a Democratic debate, having joined the field in November, months after his rivals. Here are five things to keep an eye out for.

1. All eyes on Bloomberg

The debate will likely exacerbate tensions between Bloomberg and rival candidates. For months, Bloomberg has been jabbing at his opponents without response. That’s about to change dramatically.

Earlier this month, Bloomberg said former Vice President Joe Biden “reads speeches that somebody writes for him” and dismissed former South Bend, Indiana, Mayor Pete Buttigieg as just a former “mayor of a town.” Bloomberg has labeled Vermont Sen. Bernie Sanders as an out-of-touch left-wing extremist who has lost control of his bullying online supporters.

2. Does Sanders stay on course?

As a leading Democratic candidate, Sanders has little to change in terms of his messaging. His disciplined speeches about inequality, "Medicare for all," and taxing the wealthy have shored up enough of a base to hold polling leads in states such as Nevada and California. There’s little point in risking being knocked by his opponents, who at this point remain scattered and prepared to hand him the nomination.

3. Does Biden make a serious play for Nevada?

Although he has pegged his entire campaign on winning the Feb. 29 South Carolina primary, Biden will likely need to avoid an embarrassing finish in Nevada or risk losing what little momentum he has left.

Given that healthcare remains a dominating concern for organized labor in the state, Biden should have an opening to court those who are worried “Medicare for all” would mean the end of their hard-fought private insurance plans. But recent polling out of the state points to another fourth-place finish for Biden, so if he wants to highlight one potential wedge issue, expect a long debate on healthcare.

4. Race likely to be a dominating topic

As the first primary contest in a diverse state, Democrats will likely flaunt their liberal bona fides when it comes to race. With no person of color qualifying for the debate, the dynamic could prove awkward without a contender who can stake a natural claim for the support of minorities.

Two candidates, Biden and Bloomberg, will likely be challenged the most on this topic: the former because he has pegged the survival of his third White House run on winning South Carolina, where 60% of the Democratic primary electorate is black, and the latter because of resurfaced audio of him making controversial statements on race and crime.

5. Will Klobuchar and Steyer name the president of Mexico?

It may seem like a piece of trivia to most members of the public, but knowing the names of allied foreign leaders is a standard question presidential candidates face on the trail.

During a Telemundo interview last week, neither Sen. Amy Klobuchar nor businessman Tom Steyer could name the president of Mexico when asked. Only Buttigieg, the third candidate interviewed by the network, had the correct answer.

In a state rich with Hispanic voters such as Nevada, don’t be surprised if the question comes up again.