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DraftKings Expands Board, Adds Two Female Directors

By Rhian Hunt – Updated Sep 24, 2020 at 12:09PM

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The two picks are experienced in investment, wealth management, and high-level consulting.

Sports betting company DraftKings (DKNG -0.19%) revealed in a press release late yesterday it is expanding its board of directors to 15 members and is adding a pair of directors. Both new directors are women with considerable experience in fields related to DraftKings' activities, along with various forms of investment and consultancy. The announcement comes three weeks after basketball star Michael Jordan signed on as a special advisor to the board. 

The new directors, Valerie Mosley and Jocelyn Moore, joined the board on Sept. 23. Mosley, an investment advisor, is the founder and current CEO of Upward Wealth, a technology platform that helps Americans grow their wealth. She also sits on the boards of a mutual fund company and a philanthropic venture company, and has two decades of experience as a global money management firm partner. Moore is a partner in a venture capital firm with executive experience in NFL public affairs, government consulting, and as a U.S. Senate staffer.

An ultramodern corporate boardroom with rows of chairs flanking a long polished tabletop.

Image source: Getty Images.

In appointing two women to its board of directors, DraftKings appears to be attempting to extend its appeal to a wider range of demographics, including female sports betting fans, as it builds on its existing successes. The strategy contrasts with the approach taken by Penn National Gaming, whose alliance with men's blog Barstool Sports aims more at a predominantly male audience.

The expertise of the two may come in handy almost immediately as the popularity of sports betting continues to expand. A study released by the Colorado Department of Revenue Division of Gaming yesterday shows betting in the state soared by a scorching 117% month over month in August, according to The Denver Post, serving as a barometer of the growth potential sports betting has everywhere it is legal in the U.S.

Rhian Hunt has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

Stocks Mentioned

DraftKings Inc. Stock Quote
DraftKings Inc.
$15.49 (-0.19%) $0.03

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