I stayed at the Hooters Casino Hotel in October 2014. It is pretty cheap and close to the strip, but the hotel itself and the rooms are pretty old and not very well maintained which is the main issue with this place. I would say that it has a lower than average price/quality ratio since I believe that you can find better deals in Las Vegas.
The hotel amenities are acceptable, but it lacks a club and a day club which most other hotels on the strip or close to the strip do have. The fact that it is close to the strip partially offsets that, since it is pretty easy to go to the MGM or to other hotels that do have clubs and day clubs. The casino area in the hotel is also very small compared to other ones on the strip or around downtown Las Vegas.
The parking lot is free, like any other one in the strip area, but it is a little far from the hotel's entrance so I would definitely recommend using the bellboy for your luggage.
Overall, my experience with the Hooters Casino Hotel was a little negative and I would not recommend it since there are better option on the strip in Las Vegas. Feel free to message me for any additional details that you may need!