The whole thing starts at 9pm and you meet with a group of people at a pre-determined location. Our organizer was Andrew and he made the whole experience better! Tours of 4 clubs is included (the last one being an after-hours location) but we were so tired from the first 3 that we didn't make it to the last one.
The first venue (Lynard Skynard) is more of a bar with a Western decor - but good nevertheless for drinks. The second location (Cathouse) is a hookah lounge with a couple of rooms for dancing. It was nice, but not very busy when we got there around 10:30 pm.
The third location (Mix Club) was the best. It has a long balcony overlooking LV and probably the best view of any location anywhere in LV.
We did get some free drinks but don't count on them. To get in the clubs we had a separate line than everyone else and it moved much faster, but we still had to wait about 15-20 mins to get everything organized.
The clubs are all within walking distance. You only get to stay 1hr in each club before moving to the next one, but you do have the choice to remain in any club for longer and catch up with the group later or not at all.
For the price, you can't beat this offer.