My mother in law has been a regular at Ballys for many years so she gets great rates sometimes for us.....we also stay at Luxor a lot. Plus Angie loves the spa tickets she gets there...hers and mine
We don't spend much time in the room and these are quite fine with usually good rates. If you plan ahead you may be able to get something higher end at a better rate...maybe. These are both pretty decent middle+ of the road on the strip.
You will probably spend more time walking to all the casinos to check them out rather than staying in the one you sleep in, especially your first time there.
We take the tram at the Mandalay Bay/Luxor and just get off where we want or just walk to each casino. Easy to do when you know the ones you want to go into. No car needed!! If you plan to stay on the strip or cab/bus downtown. Shuttles run to your hotel from the airport.
We do simple things there but two things we always do is get lunch and drinks at Toby Keith's Bar at Harrah's, I really suggest it if you like him. We also try to find time for Jimmy Buffett's Margaritaville.
Angie was there with her sisters not too long ago, she said we were going to stay in a new place next time we go...I will get back to you on that one...I forgot.
EDIT ~ Planet Hollywood
Have a great time!