Hacksaw Gaming, a leading iGaming technology firm, has officially announced its intention to go public on Nasdaq Stockholm, signaling a major step in its global expansion strategy.
Key Takeaways:
- Hacksaw Gaming confirms plans for IPO on Nasdaq Stockholm
- Company reported €137 million revenue in 2024, doubling 2023 results
- IPO to consist of existing shares from founders, executives, and employees
Record-Breaking Performance Drives IPO Decision
Hacksaw Gaming’s decision to go public comes on the heels of an exceptional financial year. The company achieved a remarkable €137 million ($156.32 million) in revenue for 2024, more than doubling its 2023 figures. This impressive growth, coupled with a steady EBIT margin of 84%, underscores the company’s robust business model and effective scaling strategy.
The Board of Directors stated in the official announcement, ‘Hacksaw’s Board of Directors and management consider the IPO on Nasdaq Stockholm to be a logical and important step in Hacksaw’s development.’
Strategic Approach to Public Offering
Unlike many tech companies pursuing IPOs, Hacksaw Gaming enters the market from a position of financial strength. The planned offering will consist solely of existing shares from founders, executives, and employees. This approach aims to create a liquid market for the company’s shares, potentially enhancing its appeal to investors.
The IPO will target retail investors in Sweden, Denmark, Finland, and Norway, as well as institutional investors in Sweden and internationally. This broad approach aligns with Hacksaw’s ambitions to elevate its public profile and gain strategic flexibility in an increasingly competitive market.
Expanding Global Footprint
Hacksaw Gaming has rapidly evolved from a flexible B2B studio into an international Remote Gaming Server (RGS) platform and games supplier. The company now operates across the entire B2B value chain, from concept creation to content delivery and distribution.
Recent partnerships highlight Hacksaw’s growing influence in the iGaming sector. In January, the company secured a deal with LiveScore Group in the UK, followed by a partnership with Daznbet to expand into the Italian market. A content agreement with Casino Luzern in Switzerland further demonstrates Hacksaw’s ability to navigate highly regulated markets.
Implications for the iGaming Industry
The IPO is expected to position Hacksaw Gaming among an elite group of publicly traded iGaming tech firms in Europe. This move could potentially reshape the competitive landscape, providing Hacksaw with additional resources to fuel innovation and expansion.
For the broader iGaming industry, Hacksaw’s public offering may signal a renewed investor confidence in the sector, potentially paving the way for more iGaming companies to consider similar moves.
The IPO is slated for completion this month, with more details expected to be unveiled in the coming weeks. As Hacksaw Gaming transitions to a public company, industry observers will be watching closely to see how this move impacts its growth trajectory and influences the wider iGaming market.
