Hacksaw Gaming
Hacksaw Gaming is a Stockholm studio founded in 2018 that rose from scratch cards to become one of the most popular high-volatility slot makers, known for Wanted Dead or a Wild and Chaos Crew, and listed on Nasdaq Stockholm since June 2025.
| Founded | 2018, Stockholm, Sweden |
|---|---|
| Listed | Nasdaq Stockholm since June 2025 (ticker HACK) |
| Specialty | High-volatility slots and online scratch cards |
| Flagship Titles | Wanted Dead or a Wild, Chaos Crew, Le Bandit, RIP City |
| Max Wins | Typically 10,000x stake or higher |
| Revenue 2024 | €137 million |
Company background
Hacksaw Gaming was founded in Stockholm in 2018, initially as a maker of online scratch cards before pivoting to video slots around 2020. The pivot worked spectacularly: within a few years its games sat alongside Pragmatic Play and Play’n GO titles among the most played slots at European and crypto-focused casinos. Growth showed up in the numbers — revenue more than doubled to €137 million in 2024 — and in June 2025 the company listed on Nasdaq Stockholm under the ticker HACK after a heavily oversubscribed IPO that valued it at roughly €2 billion.
House style — volatility as a brand
Hacksaw’s identity is extreme volatility wrapped in minimalist, cartoonish art. Its slots typically advertise maximum wins of 10,000x stake or more, sparse base games, and bonus rounds where nearly all the value concentrates. Wanted Dead or a Wild — a western with three distinct high-risk bonus modes — is the studio’s flagship and a fixture of streaming culture; Chaos Crew, Le Bandit, RIP City and Hand of Anubis follow the same template. The studio also popularised bonus-buy features in markets where they are permitted, letting players pay a multiple of stake to enter the bonus round directly.
Distribution and regulation
Hacksaw runs its own remote gaming server and distributes to operators across regulated European markets, holding certifications in a growing list of jurisdictions. Its games are also unusually prominent at crypto casinos, where the high-volatility profile suits that audience. Published RTP on most titles sits in the mid-96% range in the headline version, with operator-selectable lower versions — as with other studios, the in-game info screen shows the configured figure.
Frequently asked questions
What is Hacksaw Gaming known for?
Extremely volatile slots with huge advertised maximum wins — typically 10,000x stake or more — and simple, distinctive art. Wanted Dead or a Wild and Chaos Crew are its best-known titles.
Is Hacksaw Gaming a public company?
Yes. Hacksaw listed on Nasdaq Stockholm in June 2025 under the ticker HACK, following an oversubscribed IPO that valued the company at roughly €2 billion.
Are Hacksaw slots riskier than other slots?
They are generally more volatile: wins are rarer but larger, with most of the game's value concentrated in bonus rounds. The long-run RTP is comparable to other studios — the difference is how unevenly that return is distributed across sessions.
Sources
- Nasdaq Stockholm — Hacksaw AB listing announcement, June 2025
- Hacksaw Gaming IPO prospectus and reported 2024 results
- Hacksaw official game sheets and in-game information screens