No!
It is most definitely NOT safe to walk from the MGM to the Freemont district. From the MGM it is mostly safe to walk down as far as The Wynn, but not much farther. The Monorail station, attached to MGM through the MGM shopping mall will get you as far as the Sahara, which usually has $5 tables, but to get Downtown (Freemont) you will want to take a cab or study the bus schedule. It really is not walkable, distance or security wise.
However, once Downtown, the Freemont area is very open and pleasant to walk about, at least before dark. Most of the downtown casinos are within easy walking distance. The street is closed, bricked in, and a huge canpoy covers several blocks in bright, open, pavilion style. The Plaza sits on one end and Las Vegas Blvd crosses the other. Most downtown casinos I have been in have $5 or less BJ most of the time. I have often be told not to stray off of Freemont Street, therefore, I don't.
Aside from the occational pan-handler, I have never been hassled anywhere in Vegas, at any time day or night; just use good judgement and use appropriate descretion at the cash cash should things go your way.
Good Luck!
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