I've been to Vegas 4 times now, 3 times for a fight.
American Airlines do the cheapest flights I've found, check their UK site out. I'd budget between £400 and £450 for the flight. That's with a change though which I personally prefer (breaks the journey up). But if you really do want a direct flight then it's probably £500 plus. Check BMI, Virgin & Continental for Direct flights. Obviously London flights are cheapest but AA also fly from Manchester and Continental & BMI from Brum...
Hotel wise go for the Imperial Palace if budget is an issue, cheapest place to stay that's central on the Strip. You seriously cannot beat the location and it's a decent hotel by UK standards. Places like Circus Circus, Riviera, Sahara & The Stratosphere are as cheap but they're at the top of the strip and a little out the way. Obviously the Imperial is one of the cheapest, but it's a good base point to work out a budget, if you can afford more then somewhere like the Luxor as mentioned would be nicer..
I wouldn't stay downtown as Missy suggested, it is cheap and I actually love downtown but taxis in Vegas are a rip off and you're talking $20 minimum each way from the Strip so it's false economy staying there.
All in you can get a week in Vegas at the Imperial for £550 including flights, even less if you just do a long weekend. I'd def go for a Thursday flight so you're there for weigh in on the Friday as well. Fight wise I'd budget about £150 for the ticket, that's how much I paid for Hatton Castillo. If you can spare it though I'd def pay more, although with the big screens the view from anywhere in the MGM Garden is decent..
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