Well, not quite goodbye, but no more "hello".
After June 3, you will not be able to get new 702 area code numbers. All new numbers assigned will be in the lame (725) area code, which will be a second area code for Clark County. I'm not sure what happens to old 702 numbers that get disconnected. Can they be reused, or will they just die?
In any case, while this was inevitable, it sucks. 702 has been forever associated with Las Vegas, and 725 just won't seem right.