The lady luck is being renovated and is due to re-open in 2009.
I stayed here before the renovation started.
This is a cheap downtown hotel. there were 2 types of room. the older courtyard rooms around the pool area which were very cheap (from £15 a night for a double), and the newer Tower rooms which cost twice as much or more.
I stayed in both as our original courtyard room had a failed Air-con unit that they couldn't fix so I was upgraded free of charge to a tower room. The tower room was much more pleasant and worth more money, but in vegas i always consider my room as pretty unimportant as long as it has a comfortable bed and any money saved on the room is more to spend having fun!
the buffet and coffee shop are pretty poor by vegas standards, but there is plenty of choice in the area.
The hotel is at the outskirts of the downtown area and I would not wander far from the immediate area if you want to feel totally safe.