I am just back from a (very brief) trip to vegas.
Clubs close at 3am, and if you're not dressed correctly, not on someones guestlist (everyone has a list) or don't look the part, you're not coming in. We went to Intrigue at the Wynn - the sound system was good but the music was terrible (unless you like 'trap' intertwined with edm) and the majority of people were only there to be seen.
The casinos are still great fun, as long as that's your thing. You can be there all night and drink for free, provided you're spending enough on the tables. The hotels are great and reasonably priced. There's plenty to do during the day, as long as you're in to getting drunk by the pool or in one of the bars during happy hour. But, aside from a trip out to the grand canyon/hoover dam, there's no 'natural magic' like a simple trip to the beach or a less crowded part of ibiza.