Hacksaw Gaming Limited
- Founded
- 2018-01-01 in Malta
- Headquarters
- St Julians, Central Region, Malta
Hacksaw Gaming Limited is a Malta-based, mobile-first B2B iGaming content provider that designs and distributes slot games, digital scratchcards, and instant win titles to regulated online gambling operators. Founded in 2018 (though some sources cite 2017), the company was built around a proprietary Remote Gaming Server (RGS) platform, initially focusing on modernising the scratchcard vertical before expanding into a full-service slot supplier. Its product portfolio is engineered for vertical-screen, touch-first interaction, differentiating it in a market traditionally dominated by desktop-optimised games. The company operates under the umbrella of Hacksaw Group (publicly listed on the Stockholm Stock Exchange under ticker HACK) and has grown rapidly through a combination of direct operator integration, the OpenRGS partnership programme (which allows third-party studios to distribute content via Hacksaw’s network), and aggressive market entry. By mid-2026, Hacksaw Gaming has secured licenses or partnerships in key jurisdictions including Alberta (Canada), Buenos Aires City, Switzerland, Slovenia, Bulgaria, and several other European and Latin American markets. The firm employs between 51 and 200 staff, headquartered in St Julians, Malta, and maintains a corporate presence in Sweden via the parent group. Leadership is structured with a Group CEO (Christoffer Källberg) overseeing the listed entity, while an Operational CEO (Marcus Cordes) drives the gaming division’s day-to-day operations. The executive team also includes a Group CFO, Chief Compliance Officer, Chief Technology Officer, and Chief Legal Officer.
Detailed Review
Business Model & Technology
Hacksaw Gaming is a B2B supplier that licenses its game portfolio and RGS platform to online casino operators. Its core technology is the OpenRGS platform – a remote gaming server that handles game distribution, certification, compliance, and integration across a wide operator network. The company also offers an OpenRGS partnership programme that enables independent game studios to use Hacksaw’s infrastructure and distribution to reach operators faster.
Product Portfolio
- Slots: A collection of over 80 slot titles (as of mid-2026), all built with a mobile-first, vertical-screen design. Popular series include “Smokey’s” and various themed releases (pirates, piggies, protectors). - Scratchcards: Over 30 digital scratchcard games, with top prizes up to €500,000. This was the company’s original focus and remains a distinctive differentiator. - Instant Win Games: A range of fast-play titles, often mechanic-driven (e.g., “Ways” mechanics, buy-feature options). - OpenRGS: A white-label distribution platform that lets third-party developers host and monetise their games through Hacksaw’s operator network.
Market Presence & Growth
As of July 2026, Hacksaw Gaming has entered or expanded in the following regulated markets: - Americas: Alberta (supplier license secured, market opening scheduled for 2026), Buenos Aires City (launch with Betano, July 2026). - Europe: Switzerland (via PASINO.ch), Slovenia (via Casino.si), Bulgaria (via MagicBet), plus existing reach across the UK, Malta, Sweden, and other regulated EU markets. - Corporate Ventures: In 2026, the company launched Hacksaw Ventures, an investment and acceleration arm targeting early-stage gaming studios, technology platforms, and data tooling companies. This initiative provides capital and access to Hacksaw’s distribution network.
Financial & Ownership
Hacksaw Gaming is a subsidiary of Hacksaw Group AB (public on Nasdaq Stockholm). The group has a stated policy of distributing 75% of net profit to shareholders, and has reported strong growth (e.g., 100% growth in certain periods). The executive team holds significant skin in the game.
Licensing & Regulation
The company holds licenses from the Malta Gaming Authority (MGA), the UK Gambling Commission (UKGC), and other local regulators where legally required. It has recently secured registration as a “Critical Gaming Systems Supplier” in Alberta, Canada.
Strengths
- Mobile-first design captures the fastest-growing segment of online casino play. - Proprietary RGS and OpenRGS give third-party studios a fast route to market. - Strong management team with public-company governance and clear profit distribution. - Active M&A/venture strategy (Hacksaw Ventures) to capture external innovation.
Weaknesses / Risks
- Relatively small headcount (51–200) compared to larger incumbents; scaling may strain resources. - Heavy reliance on the B2B iGaming sector, which faces regulatory tightening in multiple jurisdictions. - Recent public listing exposes the company to quarterly earnings scrutiny and fluctuations in investor sentiment.
Key Products
Slots (Hacksaw Gaming)
A library of mobile-first, vertical-screen slot games designed for online casinos. Features proprietary mechanics and themes (e.g., “Smokey’s”, “Ways” series).
Scratchcards
Over 30 digital scratchcard titles with prize pools up to €500,000. The company’s original product focus, still a key differentiator.
Instant Win Games
Fast-play, low-latency games that combine slot-style mechanics with immediate outcome reveals.
OpenRGS (Platform)
A proprietary Remote Gaming Server that enables third-party game studios to distribute their content through Hacksaw’s integrated operator network. Includes certification, compliance, and infrastructure support.
OpenRGS Partnership Programme
A commercial program that lets independent studios (startups and mid-size) use Hacksaw’s licensing and operator reach to go to market faster.
Hacksaw Ventures
An investment and acceleration arm (launched 2026) that provides capital and strategic support to early-stage gaming companies (game studios, tech platforms, data tooling, next-gen entertainment).
Offices & Headcount
125 employees (approx.)
Key Persons
- Marcus Cordes
Operational CEO (Hacksaw Gaming)