The Fremont Hotel and Casino is located right in the middle of the Fremont Street Experience. The rooms are very affordable and they sell $2 Coronas and $2 Heinekens at all 4 of their bars, all the time! I'll admit, those are certainly at the bottom of my list of beers to drink, but for $2, what the heck? Also notable, they were the first Hotel and Casino to have valet and that is still all that they have.
There are some good dining options, including Tony Roma's. They also have a Dunkin' Donuts (being from the East Coast, I especially appreciate this!) AND a Rocky Mountain Chocolate - see my review on that. It's good, here's a preview: chocolate/candy covered apples that they will slice for you and great chocolate.
The Fremont is a classic; it's nice to see a little piece of history and really get a feel for old Vegas.