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Game provider

Hacksaw Gaming

A platform company that became a studio, now listed in Stockholm, and the clearest public example of one slot shipped at several returns. We have profiled the company below; its games are not read yet.

Since
2018
Games read
0
Sources
10
The studio, in brief
The studio

Who Hacksaw Gaming is.

10 sources

Who they are

Hacksaw was founded in 2018 to build a remote game server, and only then started making games on it. The parent, Hacksaw AB, is registered in Stockholm and has traded on Nasdaq Stockholm since 25 June 2025, when its shares opened at a valuation of about SEK 22 billion; its operating hub is in Malta.2,1,5

It grows fast and lean. Revenue reached €197.5 million in 2025, up 44%. Since 2023 it has also rented its server to other studios as OpenRGS: of the 91 games released through it in 2025, 46 came from third parties.4,3,2

What they are known for

Hacksaw's slots are built for short, violent bonus rounds and big multipliers, sold with bonus buys and scratch cards alongside. Wanted Dead or a Wild introduced DuelReels, where duel symbols turn into wild reels carrying multipliers, with a 12,500x ceiling; Chaos Crew rates its own volatility five out of five.6,7

Licensing and compliance

Hacksaw lists more than a dozen licences, including MGA/CRP/501/2018, Sweden, Greece, Romania, Ontario, Denmark, the Isle of Man and five US states. The UK Gambling Commission lists HGMT Limited under account 54059 since October 2019. In Sweden, the regulator fined Hacksaw Studios AB in 2024 because unlicensed operators were offering its games; the courts upheld the breach but cut the fee to SEK 20,000, citing the geoblocking already in place.5,9,10

Return to player

Hacksaw prints its return versions on its own game pages: Wanted Dead or a Wild at 96.38%, 94.55%, 92.33% and 88.42%; Le Bandit Hold & Win down to 86.28%. The pages don't say who picks; the casino's game rules will show which one you are on.6,8

Notable games

The games it is known for.

  • Wanted Dead or a Wild

    DuelReels wild reels with multipliers; 12,500x maximum.6

    Not analysed on Velven yet
  • Chaos Crew

    Volatility 5/5 and a 10,000x maximum.7

    Not analysed on Velven yet
  • Le Bandit Hold & Win

    Two hold-and-win modes triggered by rainbow symbols.8

    Not analysed on Velven yet
The games

Slot games by Hacksaw Gaming

0 of 0 games

We have not read any Hacksaw Gaming games yet.When we do, each one is listed here with its return configurations and a link to its analysis. Until then, the games we have read are in the slots index.
Sources

Where every claim above comes from.

  1. First day of trading in Hacksaw's shares on Nasdaq StockholmHacksaw · 25 Jun 2025
  2. AboutHacksaw Group
  3. Annual Report 2025Hacksaw AB · 26 Mar 2026
  4. Year-end report January–December 2025Hacksaw AB · 17 Feb 2026
  5. LicensesHacksaw Group
  6. Wanted Dead or a WildHacksaw Gaming
  7. Chaos CrewHacksaw Gaming
  8. Le Bandit Hold & WinHacksaw Gaming
  9. HGMT Limited — licence summary, account 54059UK Gambling Commission
  10. Courts agree Hacksaw Studios should pay SEK 20,000 sanction feeGambling Insider · Apr 2025

Written by Velven from the sources above, read 4 Oct 2026. Spotted something out of date? Tell us and we correct it in the open.

The method

How a studio is read.

Game by game: every return configuration the sources record, who records it, and how to check the one your casino runs.

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