As far as strip clubs, my favorite is Spearmint Rhino. I ALWAYS have fun when I'm there.....but you will spend ALOT of money there so don't stay too long ha
The Spearmint Rhino is one of the most famous strip clubs in the world, and it is definitely a good time. I did not spend anymore there than I did at a decent strip club...it gets pricey if you go to a 'private room.' Lap dances take place out on the floor, so buying your buddy a dance will give you a slight amount of enjoyment as well.
My advice in terms of gambling is to play craps. A lot of people will go straight to blackjack because it 'seems' less complicated, but you can blow spending money there real fast. The guys working the pit at the craps tables will give you strategies, it has the lowest house odds against, and your losses will be spread out over several hours. That way you can take advantage of all the comp'd drinks. Plus, you have a fair chance of winning and financing your night at the Spearmint Rhino.
If your planning on gambling, maybe spend 5 minutes looking up Vegas gambling etiquette online. While it sounds silly, people take their shit very seriously there. Its easy to get yelled at not only by the crew working tables but actual gamblers--and what I mean by all of this is superstition/rule things (i.e. calling for same dice if they roll off the table or letting the crew handle chips/attempting to shake their hand).
This is just my opinion from someone who is not a gambler and was just trying to maximize fun time.
Oh, also, just like any other place, make sure to take care of your buddy. When the alcohol is flowing freely (pun intended) things can get out of hand very quick, and security has very little tolerance for crap like that.