The old Hilton (now Westgate) Superbook has been remodeled super nice. It was kick ass even before then. They used to do overflow into the old Elvis theatre with some free food/drink for VIPs.
Outside of that, any of the larger strip properties have decent places. Caesars book stands out for me vs Ballys or MGM. Wynn's is good (also moved and remodeled since I been there). I was never a fan of Venetian and whatever they put in Palazzo (it used to be in the basement, not sure if it's still there).
Outside of the strip, South Point has a nice area and does overflow into their theater area and a nearby bar. Any of the Stations, Coast, or Cannery books are worth hanging out at. The strip clubs have some deals to make it worth hanging out. Outside of that, plenty of bars for the locals to watch. Most of the big books have mobile apps so if you manage to fund your account in person (usually $100 minimum), those mobile apps have plenty of betting options for even the most degenerate gambler.
The main issue is finding a place to sit and enjoy all the games. During March Madness, esp the first weekend, it can be impossible to sit without camping out super early at any book. Not sure how you feel about it but I grew up in the midwest with noon kickoffs for NFL. 10am seems a bit early to start drinking (are you pregaming before that?).
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