The last couple of times I've been to Elko, I have stayed at Stockmen's Hotel. It's downtown about 1/2 mile from the convention center where they have the poetry gathering. The hotel has a casino, bar, restuarant and sometimes some entertainment (usually country music). Across the parking lot is the Commercial Club, another casino with a bar. Anyways, the place has always been a little cheaper than the Motel 6 down the street.
And yes, the Motel 6 at the far east end of town is another possibility.
www.stockmenscasinos.com