If you love steak and don't want to pay outrageously for your meals, this place is for you. It's called Yolie's Brazilian Steakhouse. It's located at 3900 Paradise Road in Las Vegas, east of the strip.

lasvegasrestaurants.com
You can get a 16oz Porterhouse steak seasoned with special spices for $20! Thats not bad at all!
I am not a steak person and haven't dined here but the reviews for this place are great. It has been serving folks in Las Vegas for 23 years now. I read nothing but good things about this place. They say that it is formal but not a stuffy, pretentious place and the food is awesome.