If you're looking for a hostel, this place is it - there's 4 bunk beds and one bathroom, not much else. The other people I met were all super cool. I can't speak to how good the value is because I don't go to Vegas often but it seems like a good deal. The location is JUST close enough to walk to Fremont street, it takes about 15 minutes at a semi brisk pace. There's a 7-11 about a block away so if you need anything there's plenty around.
Oh yeah and bring a lock if you want to use the lockers to store your valuables.