Las Vegas Strip braces for CityCenter impact

CityCenter's glittering high rises have forever altered the Las Vegas skyline, but there is concern about the project's impact on already-discounted hotel room rates along the world's most famous gambling corridor.

The nearly 6,000-room, $8.5 billion signature project for MGM Mirage (MGM.N) opens in December with rates up and down the Strip slashed during a recession that has forced consumers and businesses to cut spending and hold out for bargains.

A night at one of CityCenter's luxury towers can be had for as little as $129 in mid-December. The average daily room rate in Las Vegas had fallen 25 percent through August.