The best thing to do with children in Vegas is to leave them home. There is nothing there for them. Circus Circus is not a nice area of the strip. Allot of the "down and out" types wonder the street in that area looking for handouts and handing out escort service literature. Circus Circus rooms compare to a motel 6. Their buffet was likely the one portrayed in the Chevy Chase Vegas Vacation movie - where Cousin Eddie recommended "the yellow".
If you must take your children check out The Orleans. It has a movie theatre and supervised childrens play area. It is a mostly locals hotel and has a shuttle to the strip when you want to go there.