As an Italian from NY, this place is really a 2.5 for the pizza, but it gets an extra half-star for two reasons:
1. It's probably the best pizza in the area, and certainly convenient if you're at the Cosmopolitan.
2. They have oregano, red pepper, and the other condiments usually only found in pizza places with true NY roots.
If you're from NY, this pizza will be substandard. Decent, yes. Cheap? For Vegas, sure. But that being said, it's very good for what it is. A tad oily, as others have mentioned, but not a show stopper.
The line was long when I went there; fortunately, there were cool people in line with me to chat with. Took around 15 minutes to order, and a whole pie would have taken an additional 30 minutes - and this was at 3pm. I opted for a few slices instead, which were ready after a quick warm-up.
There's better food in Vegas - and certainly in the Cosmopolitan. But for quick, cheap, and acceptable pizza, look no further.