If you are unable to get a room at the Orleans Casino Hotel, they have a sister hotel Gold Coast Hotel that is only 5 minutes (2.9 miles) from the arena. The price as of right now is $376 plus tax for the 5 nights.
If you go to the Gold Coast-Orleans has a shuttle back and forth from the Orleans to Gold Coast running every 15 minutes from I think 10AM to Midnight.They also have a shuttle going from Orleans to strip(corner of Flamingo & Las Vegas Blvd) as well as another from Gold Coast to strip.All there shuttles are FREE.