Hacksaw Gaming is reportedly making moves to open an initial public offering (IPO) in the city of Stockholm.
The rumours have emerged via Bloomberg and involve Carnegie Investment Bank AB, Citigroup Inc., and Jefferies Financial Group Inc., according to the news agency’s sources.
Hacksaw Games is possibly expanding into Stockholm
The company is a global provider of scratchcards, instant win games, and slots across many territories, but has yet to put down operational roots in Stockholm.
According to the Bloomberg report, the gaming giant “reported core earnings of €57 million ($64.8 million) for 2023.” The company did run afoul of the Swedish Gambling Authority and had a financial penalty reduced from 2.6 million Swedish kronor ($264,530) to 20,000 kronor.
If the rumours are true, then Hacksaw Games would become the first gaming name to set up a new European location in the wake of the ongoing United States tariff decisions.
Hacksaw Games has its base of operations in Sweden, but operates explicitly out of the small nation of Malta. The company has also been rapidly expanding its North American presence since 2023.
At that time, Marcus Cordes, CEO of Hacksaw Gaming, said, “Hacksaw is thrilled about our rapid expansion and the acknowledgement our content is receiving. We are confident about our prospects in the US market.”
It remains to be seen if Hacksaw Games is expanding with the IPO to be closer to home or as a sign of things to come from European-based gambling giants.
In other Maltese gaming news, a major case heard by the Court of Justice of the European Union (CJEU) could reshape the fate of pending refunds across Europe.
According to European regulators, case C-440/23 could be a landmark one for the fate of pending refunds and legal disputes for operators across the EU landscape.
The European Lotteries reported on the case, saying that it resides in a legal limbo where the CJEU will have to rule in favour of the plaintiff or the defendant, with billions of Euros potentially on the line.
