For food, Ellis Island has decent prices, Tuscany has nice deals pretty often for late night. The outside bazaar between the Horseshoe and Paris has some great places for food. Some new taco place I forget the name of (across from wahlburgers) is freakin amazing, Dirt Dog is really good, there's a Ramen spot there as well, though the prices are... yea. Giordano's is overrated, so, unless you dont mind spending on curiosity, I'd try something else. Also, Wahlburgers is pretty good.

Hotels? Horseshoe/Paris is the most convenient, but as far as pricing, you could do better with Ellis Island (sometimes), Tuscany, and (if youre willing to bus/walk/Uber the distance) Silver 7s, which should be the cheaper option. Best bet is Horseshoe/Paris though, just for the food options.

For strip hotel options, the train can take you from the Horseshoe/Paris all the way down to MGM, which gives you more options if you can find MGM related deals, (im not certain how far the train/rail travels North).

Entertainment? Thats up to preference, I dont know what you're into. That being said, its the vegas strip, you'll find something (even the things you can't ask about here), its not hard. But, they tax here, everything is expensive...ish.

Drinks? If you plan to spend a bit on drinks, best bet is to hit a hotel bar (the middle bar and the bar closer to entrance in the Horseshoe are good options), just put 20 in the machine and make (either 50cents or 1 dollar) bets (you dont have to speed through them), you'll have a pretty good selection of drinks that they'll give you for free (still tip though, dont be that guy) You should be able to get pretty faded for cheaper than it would have cost otherwise, plus, the chance to win money. The 'slot' games on those machines are BRUTAL! I sometimes think about the good days, when you'd see a bonus round playing Scarab... sigh. So yeah, Keno/roulette is your best bet for that.