FanDuel $186M loss alarms auditors anew

The latest financial data of daily fantasy sports giant FanDuel is already out and auditors are already seeing the writings on the wall that the firm is heading down the drain.

Insider.co.uk reported that FanDuel booked a $186 million pre-tax losses for the six months to December 2015 as higher finance, legal and marketing costs outweighed lower than expected revenues.

This alarmed auditors from Deloitte as they believe that the company may not be able to fully bridge the potential gap with only $19.5 million of cash on the balance sheet.

FanDuel and several other daily fantasy sports (DFS) operators – including – rival DraftKings have faced left and right legal battles, particularly in the United States. Both FanDuel and DraftKings spent ridiculous amounts of money just to get each state regulators of their backs.