Caesars said to seek buyer for Flamingo casino in Vegas for more than $1B

Caesars (NASDAQ:CZR) is said to be shopping the Flamingo casino in Las Vegas for more than $1 billion.
The casino has been offered to private equity firms and other operators, though some have already passed on making bids due to the property's age, according to a Bloomberg report.
Caesars (CZR) CEO Tom Reeg explained on the company's 1Q result conference call on Tuesday that the company started the process of selling a Las Vegas strip asset early this year and expects the process to be completed by the middle of the summer.
Caesar's shares fell 1.9% in regular trading despite the hotel and casino operator posting a 1Q beat on the bottom line and only a narrow miss on top-line estimates.
Also see from last month, Caesars Entertainment is seen turning focus on Strip casino sale.
Caesars originally excited investors in February after it hinted that a Strip asset sale could be close.