I have also been to Las Vegas twice and to be honest...its not that kid friendly. I'm sure you *could* do it, but I can't see the kids loving it as much as the adults. I can't wait to go back myself, its Disneyland for grownups with alcoholic beverages!! but there's not that much for the kids unless you want to drag them around all the casinos.
I absolutely agree (I just couldn't find the right words... Disneyland for grownups with alcohol pretty much sums it up!)...

My DSDs would love to go to Vegas after seeing our pics, but I would rather do LA and Disneyland (the real one!) with kids... Much more to do, and MUCH more kid friendly!!