Hacksaw Gaming Gets $2.1 Billion Valuation in IPO

Hacksaw Gaming went public on the Swedish Stock Exchange this week and in one of the most oversubscribed IPOs in the European gaming world this year, the share price of $6.96 effectively valued the software provider at more than $2.1 (€2 billion).

The share offer on NASDAQ Stockholm saw the company put 43.5 million shares up for grabs, which represents about 17.3% of Hacksaw’s total share capital. They sold for more than $325 million (€306 million) and that could increase to almost $375 million with the over-allotment options.

The Malta-based studio, best known for bringing us titles like Wanted Dead or a Wild and Hand of Anubis, has become a global force in a short space of time after launching in 2018.

Not Just About the Money

Group CEO Christoffer Källberg said the IPO wasn’t just about cash. It was about presence. “Being listed on Nasdaq Stockholm enhances our visibility and credibility on the global stage,” Källberg said. “It positions us for continued growth and innovation.”

More than 16,000 new shareholders jumped aboard the Hacksaw rocket via this IPO. Lock-up periods are in place, the roadmap is clear, and the upside is huge — especially if the company keeps hitting growth numbers like it has been.

In 2024, Hacksaw pulled in $146 million (€137 million) in revenue, up from $71.5 million (€67 million) the year before. That’s more than double, and they’re doing it with an EBIT margin of 84%.

Major Growth on the Way?

The company is now live in over 20 regulated markets, with licenses from the Malta Gaming Authority and the UK Gambling Commission, among others. They’ve cracked some of the toughest territories and are expanding fast, with North America firmly in their sights.

Hacksaw Gaming features on some of the biggest online casinos in the world, and is one of the most popular game providers in the world right now. This investment could give it fresh momentum, and the world is waiting to see what comes next.