Newly appointed Las Vegas Raiders President Sandra Douglass Morgan is leaving Caesars Entertainment’s board of directors.
The gaming company revealed the departure in an 8-K filing with the Securities and Exchange Commission (SEC) and clearly notes the decision revolves solely around her new role with the NFL franchise.
On July 15, 2022, Sandra Douglass Morgan informed the Executive Chairman of the Board of Directors (the “Board”) of Caesars Entertainment, Inc., a Delaware corporation (the “Company”), that she is resigning from the Board effective immediately. Ms. Morgan’s resignation was due to her recent appointment as the President of the Las Vegas Raiders and was not the result of any disagreement with the Company on any matter relating to the Company’s operations, policies or practices,” according to the regulatory document.
On July 7, the Raiders tabbed Douglas Morgan, formerly chair of the Nevada Gaming Control Board (NGCB), as their next president. She’s the first Black woman to run an NFL team.
Raiders President Job Likely Demanding
Upon taking the job with the Raiders, it initially appeared as though Douglas Morgan would retain her Caesars director role with Executive Chairman Gary Carano speaking glowingly about the board member and her potential impact with the Raiders.
It’s unclear exactly what motivated Douglas Morgan’s decision to leave the gaming company’s board, but running an NFL franchise is a demanding job. Those demands may be amplified with the Raiders. She’s the third person, including one in an interim capacity, to occupy the role as team president in a year.
Additionally, the Raiders are dealing with high front office staff turnover and there are rumors about financial woes in the organization. While not speaking to specifics, Douglas Morgan acknowledged challenges in her debut press conference with the team.
She also holds a board seat at Allegiant Travel — the airline that has naming rights to the stadium where the Raiders play home games. A search of Allegiant’s recent SEC filings doesn’t reveal any plans by Douglas Morgan to leave the company.
How Caesars’ Board Looks Now
Caesars Entertainment’s corporate web site acknowledges Douglas Morgan’s resignation from the board. With her departure, the board is now comprised of nine members and it’s not immediately clear if a tenth will be added.
Two of the remaining board members are women — Bonnie Biumi and Jan Jones Blackhurst. From a diversity standpoint, Caesars’ slate of directors might do with some change because with the departure of Douglas Morgan, there are no minorities on the gaming company’s board.
That’s a potentially important factor because institutional investors are focusing on environmental, social and governance (ESG) principles, including diversity among companies’ high-level management roles and corporate boards.
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