Hacksaw Gaming Announces IPO
Game provider Hacksaw Gaming has announced its upcoming IPO on the Stockholm Stock Exchange, aiming to raise up to €351 million. Trading will begin on June 25 under the ticker symbol HACK.
Key Offering Details
According to the official announcement, existing shareholders plan to sell shares worth up to €355 million (approx. $380 million), including an over-allotment option for underwriters. The IPO is set to launch on Nasdaq Stockholm on June 25 under the ticker HACK.
Earlier reports indicated that Hacksaw Gaming was preparing for a Stockholm IPO as the company expands further into Europe — driven in part by U.S. trade policy pressures.
Offering Structure
- The IPO will consist exclusively of existing shares — no new capital will be raised by the company.
- Sellers include the Habanero III Venture Fund (the main shareholder), as well as company executives and employees.
Financial Highlights
Founded in 2018 in Malta, Hacksaw Gaming reported an adjusted EBITDA of €49.4 million and revenue of €108.7 million in 2023.
For Q1 2024, the company posted revenue of €35.2 million and an adjusted EBITDA of €16.1 million.
Distribution Details
- Goldman Sachs Bank Europe SE and Carnegie Investment Bank AB are acting as joint global coordinators.
- JP Morgan SE is serving as bookrunner.
About the Company
Hacksaw Gaming specializes in online slots and scratchcards, operating in over 20 countries. Its partners include BetMGM, Betway, and 888.
The company reported compound annual revenue growth of over 100% since 2021, with a 109% increase in 2023 alone.
Additional Facts
- Hacksaw Gaming has held a UK operating license since 2022.
- As of the end of March 2024, the company employed 109 people.