Dubai World's debt crisis will have no impact on Las Vegas' massive CityCenter development, MGM Mirage said.

MGM Mirage and Dubai World are partners in the $8.5 billion project. The development's first hotel, Vdara, opens Tuesday. Over the next few weeks, other hotels, the casino, shops and residences will open.

"Any possibility of impacts from Dubai's financial difficulties were eliminated last April as we negotiated an agreement that called for Dubai World to fully fund while initiating cross default language that protects us against any issues at Dubai," MGM Mirage said. 

"Dubai World posted an irrevocable letter of credit with an international bank that can't be undone under any circumstances. Also, with the project near completion, there is little left to be drawn.

"Simply put, there is no activity at either partner that can affect the joint venture."

The company also notes it has the right of first refusal should Dubai World seek to sell its portion of the project.

Outstanding debt related to CityCenter totals about $1 billion for Dubai World and MGM Mirage combined.