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Tropicana and Excalibur are probably the cheapest within walking distance of Mandalay Bay. Luxor isn't so bad (I'm staying there) and you can get a great price directly through their site.
Since you're planning on staying over New Year's Eve, you should book ASAP. The prices for the 30th, 31st and 1st are going up on a weekly basis. The Luxor will cost ya $1323 with the 31st alone costing you $349.
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