Like every other airport on the planet, LAS has lines, invasive searches at the metal detectors and a wait at the baggage claim. But you know what ?
Those other places don't have slot machines (warning -- these slots have the worst pay out odds in the state), video skits on tv screens featuring local performers to make the wait in lines feel shorter and non-stop marketing of shows around town. It's one of the more fun airports I've ever been in. I know. I know. Airports are built for function, not for fun and so the bar isn't set that high.
But functionally, LAS is doing a great job. They get the bags off the planes pretty quick, have a really fast taxi service for folks that just want to get to the casinos fast and a convenient bus service to satellite parking for the locals. And if you're driving in to pick someone up, they do a good job keeping traffic flowing.
Style and function = 4 stars.