You're staying at the Venetian? Nice. Love that place.
Let's see... since you're going with a buddy, go to Cheetah's some night. Look it up (when you're not at work). It's the same kind of place as Olympic Gardens (someone mentioned it already).
Definitely go downtown to Freemont Street (also at night). If you like to play blackjack and you're on a budget, you'll be able to find tables that aren't $10 a hand, and you can even find single-deck blackjack down there still.
Check out the fountains at the Bellagio. Walk into some of the big places & check them out... some of them just have amazing lobby/shopping areas (you'll see what I mean when you get to the Venetian). Suggestions include Ceasar's Palace, the Bellagio and the Monte Carlo.
Shows are great, but they can be expensive. Check out the magazines in the room for what's going on in town while you're there. If you like magic, check out Penn & Teller's show at the Rio... it's not as expensive as some of the other shows, and they're way cool. A great place for show tickets is Tickets2Nite. "Offers same-day, half-price Las Vegas discount show tickets. Located behind the giant Coke bottle at 3785 Las Vegas Blvd., in Showcase Mall near the MGM Grand. They open at noon, but start posting show availability about 11:30. Arrive early for the best selection. Some people mistakenly think Coca-Cola buys tickets at full price and sells them at a discount as a promotion, but it does not. Instead, they get their stock from shows that still have seats available on the day they're performing."
Speaking of the Rio, eat at their buffett. All of the casinos have great food, but the Rio's is arguably the best.
The Rio is off the strip, but you can get a free shuttle from Bally's (next door to the Venetian... you can walk through from one hotel to the other, then simply go directly across Bally's casino to where the Rio shuttle is).
If you want to go anywhere else, get a cab. Don't bother renting a car. You'll want to drink everywhere you go, and there's no sense driving... it's easy to get cabs.
Basic gambling rules: Don't take more than you can afford to lose. Don't go with the idea of winning money in mind, just have fun. But don't play games you don't understand, either... a lot of the casino/hotels have a channel on TV dedicated just to explaining games, and many have free classes where they show you how to play. Be curteous to the dealers & pit bosses and you'll get more freebies... don't be abusive. Also be curteous to other players, but that kind of goes without saying. Tip the drink waitresses, bartenders and dealers. Keep an eye on your money. Have fun!
