The Stockholm Stock Exchange may soon be replenished with a new name from the iGaming industry. According to Bloomberg, Hacksaw Gaming is considering an initial public offering (IPO) in the Swedish capital.
Agency sources claim that Carnegie Investment Bank AB, Citigroup Inc. are involved in the deal. and Jefferies Financial Group Inc. — large financial players who often accompany high-profile exits to the stock exchange.
Enlargement and binding to Sweden
While Hacksaw Gaming is legally based in Malta, the company has Swedish roots and appears to be looking to gain a foothold closer to home. At the moment, it does not have a full-fledged office in Stockholm, but a possible IPO could change that.
For 2023, Hacksaw Gaming showed an operating profit of €57 million, which is equivalent to about $64.8 million, which is a serious figure for a relatively young but ambitious studio.
At the same time, it is worth noting the recent incident with the Swedish gambling regulator (Spelinspektionen), which imposed a fine of SEK 2.6 million on the company. Later, the amount was reduced to 20,000 kronor - and although this is insignificant financially, the fact still remains.
IPO as a growth strategy?
If the rumors are confirmed, Hacksaw Gaming will be the first gaming company to open a new point of presence in Europe amid the unstable US tariff policy. Recall that since 2023, Hacksaw has been actively developing the North American market, seeking to gain a foothold in the United States and Canada.
According to CEO Marcus Cordes, the company is "excited about the scale of its growth and the recognition that our games are receiving. We are confident in our prospects in the American market."
Now, perhaps, Hacksaw Gaming is also looking towards active expansion in Europe - already at the level of stock markets.
Speaking of Malta...
While Hacksaw is taking steps towards an IPO, another high-profile case is being discussed in Malta. Case C-440/23, considered by the Court of Justice of the European Union (CJEU), may affect the fate of refunds to operators across Europe. According to representatives of The European Lotteries, we are talking about billions in compensation - and this is only the tip of the iceberg.