Correction: it’s the Fremont Street experience downtown. Worth seeing, but at this time of year it might be chilly (it’s outdoors) so bring a coat. (Same goes for the Grand Canyon if you drive).
If you don’t have a car, or don’t want to drive, you can take advantage of some free shuttles courtesy of Sam’s Town. Right across Flamingo you can catch a free shuttle at Bill’s Gambling Hall and Saloon (used to be Barbary Coast). This shuttle will go down the strip to the Tropicana (easy access to the MGM Grand, NYNY, Excalibur, Luxor, etc.).
The shuttle from the Tropicana will take you to Sam’s Town (way down on Boulder Hwy.). Sam’s Town is much lower key than the strip. They have an 18 theatre movie complex, so you can catch a show.
From Sam’s Town you can take a shuttle to downtown. But the kicker is that to get back to Bill’s, you need to go back to Sam’s Town first. So you need to watch your time/schedules.
Or from Sam’s Town you can go back to Bill’s.
The shuttles are nice, and run on schedule. It is a convenient way to get around for free.
I second the Forum Shops at Caeser’s (walking distance from Bally’s). Another nice diversion from gambling.
If you’re interested on seeing a show, do a search on “cirque du soliel” on this message board, and you’ll get lots of recommendations. (I’d recommend “O” at the Bellagio, or “Mystere” at Treasure Island).