There are a lot of things to do here for not too much money. The shows will cost $65 and up pp, so I would pass on those. If you want to drink cheaply, play the nickle slots because they still give free drinks if you play those. Tip the waitress a buck per drink and she will be back before you can finish your first drink.
There are many cool things to see, like the shark tank in Mandalay Bay ($8 per, I think), the IMAX theatre in the Luxor is pretty cool too. If you are into video games or pool, go to Gameworks across from NY NY. The carnival show (free) in the Rio is cool, and make sure to go to the top to the balcony, great view.
Most of the shopping malls (in the casinos) are fun just to walk around in, and there is usually "street performers" in all of them.
Hmmmm.... If you want to see one of the nations top rock climbing areas, Red Rock Canyon is 15 miles due west of the strip, great place to go for a hike or just drive the loop through there. Make sure you see the fountain show at the Bellagio, it is great, and free.
These are our local sites and you can find deals or info:
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