I agree with with the Bravo that a hotel in Vegas is way more than a hotel. I would not go cheap just because you have the Ohio view of "it is a place to sleep, I won't be there".
You will be there. Your view changes the minute you get there. There is tons of shit to do inside of a good casino.
Here is probably the best value recommendation I can make. Stay at the Monte Carlo, Bellagio, or the new City Center hotel (name escapes me). I guarantee Monte Carlo will be cheapest -- however -- you have a tram that goes back and forth between all three until 4 in the fucking morning. Also, definitely book a package with airfare. We used Expedia. Your rate will be higher because you are going in the summer months.
Tram saved me from having to walk everywhere when I wanted to make random drunk trips. I would leave Monte Carlo at random times to go with people to Bellagio to gamble, come back and chug my own booze, then go wherever the fuck I pleased. Trust us when we say a good hotel will make or break your trip. Vegas is not the place to be frugal.