NABET, NABET 2018 Conference

Font Size: 
Evaluating Post-Acquisition Strategy and Implementation in the Casino Industry
Noel M Criscione-Naylor

Last modified: 2018-07-03

Abstract


Commercial gaming has become a critical source of revenue for state budgets. In 2017, HB271 was signed into law expanded gaming through the creation of 10 additional mini-casino licenses and the legalization of online gaming and sports betting, both recently approved by federal law. In response to these policy changes, two notable sales have occurred in the Eastern Pennsylvania market. The sale of Valley Forge Casino Resort to Boyd Gaming and Sands Bethlehem to Wind Creek Hospitality. Acquisitions naturally result in employee uncertainty and for these casinos it is coupled with the opening of two previously closed Atlantic City, New Jersey casinos, Ocean Resort Casino (Revel) and Hard Rock Atlantic City (Taj Mahal). The employee populations at Sands Bethlehem
and Valley Forge Casino Resort are vulnerable without appropriate acquisition implementation and retention strategies. Kim and Olsen (1999) define a five dimensions construct to implement and evaluate post-acquisition implementation that includes approach, people, culture, organization, and strategy. The purpose of this exploratory, quantitative study is to replicate this model within these casinos to to identify the relationship between employee commitment and turnover intentions of casino front-line employees and supervisors during the post-acquisition integration phase of a merger and reopening of two Atlantic City casinos. Data will be anonymously collected and findings will provide important insights for talent retention, change leadership,
and employee turnover intentions to help organizations more effectively manage organization change and competition.



Keywords


merger, employee retention, change management