The monorail in Las Vegas goes between hotels on one side of the Strip (the MGM side). Don’t confuse this with the smaller and shorter free trams that go between some of the related hotels. This train costs about $3 per ride, and you can buy a $20 ten-ride ticket or an unlimited daily pass. There are no transfers.
I was out late and coming from the Bellagio to the Hilton, and to get to the tram, I had to walk to the stop at the Bally/Paris hotel. I did this a couple of times on my trip, and realized that if I went on the street, I saved about 10 minutes of walking through the maze they set up for you to look at all the hotel/casino sites. I’ve stayed at Paris before and am not impressed with the Bally casino, so the street was preferred, and I used the entrance to the monorail off the side of bally in the back. Beware that the monorail stops at 2am, so if you are going somewhere, you have to take this into account.
There are a lot of helpers and security on the entrances and train platforms. The monorail goes from MGM to Aladdin, and if you were to take a taxi, one person would cost about $12. It is less of a deal the more people you have going. If you are leaving the convention center at high time, it’s the only way to go, as the taxi line can take 1 hour.