Caesars Entertainment Corp. executives have unveiled plans for The Linq, a $550 million outdoor retail, dining and entertainment district.

As part of the development, the Imperial Palace will be renamed, renovated and rethemed. The tiny O'Sheas casino will be demolished and become part of the reconfigured Imperial Palace, and Flamingo will receive a new pedestrian entrance that connects the casino with The Linq.

A new name has yet to be determined. The company is leasing the Imperial Palace name, and that lease expires next year.