Mandalay Place is an OK shopping and dining venue between Mandalay Bay Hotel and the Luxor. I sometimes come here to walk the short distance between the two properties and people watch. It's great fun.
There are some good restaurants here--RM Seafood and Ri Ra to name the two I've been to. There are some good shops if you need or want the kinds of things they sell.
The one turn off for me is the completely overwhelming smell that emanates from the soap shop. I need to steer clear of that place to avoid sneezing.