Hacksaw Gaming
Also known as: Hacksaw AB (publ)
Hacksaw Gaming develops slots, scratchcards and instant-win games on its own remote game server and distributes them to operators and aggregators. It opens that server to third-party studios under its OpenRGS programme. Its parent, Hacksaw AB, has been listed on Nasdaq Stockholm since June 2025 and reported 2025 revenue of EUR 197.5m.
- Founded
- 2018
- Headquarters
- Malta (operations); Stockholm, Sweden (listed parent)
- Ownership
- Hacksaw AB (publ), Nasdaq Stockholm Large Cap: HACK, listed 25 June 2025. Widely held, with no single controlling shareholder.
- Licences
- MGA (MGA/CRP/501/2018), UKGC (account 54059), Isle of Man GSC, Sweden SGA (23Si638), Greece (HGC-000055-MN), Ontario AGCO, Romania ONJN, Denmark, Michigan MGCB, Pennsylvania PGCB, West Virginia, Peru
- Products
- slots, instant win / scratch cards
- Also known as
- Hacksaw AB (publ)
- Website
- www.hacksawgaming.com
History
Hacksaw Gaming was founded in 2018 across Malta and Stockholm. Its first product line was scratchcards, not slots — its own site in April 2019 described a launch batch of twenty-six scratchcards — and it moved into slots afterwards. It obtained a Maltese B2B licence in December 2018 and built early distribution through aggregators serving crypto and Curacao-licensed operators, a route that let it scale faster than studios starting with UK and Swedish licensing.
Revenue scaled from EUR 32.0m in 2022 to EUR 197.5m in 2025 at operating margins above 80%. The parent company, Hacksaw AB, floated on Nasdaq Stockholm Large Cap on 25 June 2025 at SEK 77 per share, valuing it at roughly SEK 22bn; the offering consisted entirely of existing shares sold by existing holders, so the company itself raised nothing. Its operating activity remains in Malta, where the 2025 annual report states strategic decisions are made, while the listed parent is registered in Stockholm. It launched Hacksaw Ventures in 2026 to take minority stakes in partner studios.
Notable
- Listed on Nasdaq Stockholm Large Cap as HACK since 25 June 2025 — it is no longer privately held.
- The float was entirely a sale of existing shares by existing holders; the company raised no new capital.
- Started with scratchcards, not slots: its April 2019 launch catalogue was twenty-six scratchcards.
- Reported 2025 revenue of EUR 197.5m at an operating margin around 82%, from roughly 293 games and 254 employees.
- Opens its remote game server to third-party studios under OpenRGS, so some content sold through Hacksaw is not Hacksaw-developed.
Notable work
- Wanted Dead or a Wild
- Chaos Crew
- Le Bandit
- RIP City
- Hand of Anubis
How well established
The listing, the terms of the flotation and the reported revenue and margins come from the company's own prospectus and annual report. The 2018 founding and the scratchcard-first history are supported by its own site as archived in 2019.
