This was the second time I've stayed at Casino Royale.
This place is the ultimate place to stay when you're a college student and at Vegas with a bunch of friends with reasons I won't get into =) - Let's just say splitting the room costs with a bunch of people will leave you smiling as you see how much you have to pay.
Two Huge Pluses:
Location - Since we've stayed here we have never had to cab to any clubs as it is relatively close to the middle of the strip between Bellagio and Treasure Island (although we have to admit cabbing is almost always for girls since they insist on wearing heels). It is super easy to go out and come back to the room during the day to micro nap or grab extra drinks from the fridge!
$1 Margarits and Beers Downstairs - They have $1 Strawberry or Lime margaritas downstairs! If you walk around the casino you can see tons of patrons drinking them from the clear plastic cups. They are delicious by themselves but pour a shot or two into each cup and you got a great way to party all day and night =).
As I get older I might have to elevate my company and standards to suites at the Venetian or Aria but if I'm feeling Cheap there's no place I'd rather go than CR.