Caesars Is Said to Seek $1 Billion-Plus for Famed Flamingo Hotel

Caesars Entertainment Inc. is seeking a buyer for its Flamingo casino in Las Vegas at a price of more than $1 billion, according to people with knowledge of the matter.

Some potential buyers have already passed on the property, according to the people, who asked not to be identified because the deliberations are private. The casino has been offered to private equity firms and other operators, some of whom have been reluctant to buy an older property that needs a lot of maintenance.

Outside the Flamingo Hotel and Casino in Las Vegas, Nevada, in 2020.

Photographer: Roger Kisby/Bloomberg

Another issue is that the Flamingo would likely lose a lot of business when separated from ...