I haven't been to the El Cortez in at least 5 years, but know this--it's 2 blocks away from the Fremont Street Experience--the cheesy, zip-lining 'roof' over the street that projects images during pounding rock songs on the hour.
And those 2 blocks are a long way, full of degenerates that have wandered off the FSE. You won't get killed, but you may be accosted.
Look--downtown used to be my thing--cheap gambling, restaurants with hidden menus that provided great value--Hugo's Cellar at the 4 Queens comes to mind. A great 99-cent shrimp cocktail at the Golden Gate. The 24-hour coffee shop at The Fremont that we'd go to at 3AM because the clientele was out of Star Wars.
But over the last 3-4 years, the whole area has turned into basically a freak show. Scantily-clad men & women that have no business doing that, and sad panhandlers galore. Plenty of people down on their luck, and then some. Sorry, I don't go on vacation to see that. I'm going in two weeks and I think I will pass on downtown this time.
However, near there we will visit--for the 2nd time--the awesome Mob Museum--which I highly recommend--that with a coupon is about $20.
If you had to dine around downtown...Oscar's above the Plaza is pricey but decent, and that's about it, which is a shame because there used to be so many great deals down there.