In this day and age, people have to do whatever they can to eat. Note that this does not guarantee anything, only that it will be hosted by Montag.
Do you really think she's going to take her clothes off? I suspect that this news is going to bring a lot of mocking but it really shouldn't. There are a lot of people who are in the same dire straits as Montag and who have nothing left to trade upon but their former notoriety. And Vegas pays, and it pays well. Whoever signed this deal knew they were entering a contract with crazy and unpredictable and let's just hope no one ends up in prison for life when it's over.
The consequence of reality television couldn't be more apparent. You have what's left of the Gosselins, the people who tried Survivor, and you have people like Montag who simply can't find work. This is what happens when you go all-in with a television format that creates a product that has no value after it has been shown once or twice.