What a rollercoaster 2025 turned out to be for Hacksaw Gaming. This scrappy studio kept punching above its weight, dropping hit after hit while expanding like crazy. From fresh slots that got everyone buzzing to smart moves in new markets, the year felt like one big win streak. Let's break it down and see how they pulled it off.
A Banner Year for Growth and Milestones
Hacksaw didn't just coast through 2025; they charged ahead. They cranked out 44 in-house games at Spinny Casino, plus another 42 through their OpenRGS platform with partner studios. That's a ton of fresh content keeping players hooked. On top of that, they doubled their partner studios to eight, showing how they're building a real ecosystem.
The big splash came in June when they went public on Nasdaq Stockholm. The IPO was a smash, oversubscribed big time, with shares priced at 77 Swedish kronor, pegging the company at around 22 billion kronor. It wasn't just about the cash; it signaled they're ready for the big leagues. Awards rolled in too, like Medium Studio of the Year from SlotCatalog and SBC Europe, plus Best Game Studio from BigWinBoard based on player votes. Even their partner Backseat Gaming snagged Rookie of the Year. These nods prove they're not just making games—they're making ones people love.
Standout New Releases That Defined the Year
The real magic happened in the games themselves. Hacksaw kicked off strong with Phoenix DuelReels in January, blending mythology with a dual-reel setup that synced spins for double the excitement and bigger payouts. Le Viking followed, diving into Norse adventures with epic respins and multipliers up to 10,000 times the bet. Marlin Masters brought underwater thrills, focusing on fishing mechanics with bonus hauls that ramped up wins. As the year heated up, sequels stole the spotlight.
Chaos Crew 3 in September cranked the anarchy to new levels on a 5x5 grid, ditching clusters for paylines and boasting a jaw-dropping 30,000 times max win—the highest ever from Hacksaw. Rad Maxx and Le King kept the energy high with quirky characters and hidden bonuses that surprised players mid-spin.
Later hits like Tiger Legends mixed Asian folklore with sticky wilds and free spins, while Army of Ares in December unleashed mythical battles on a payline system for 10,000 times payouts. Jaws of Justice added cosmic shark fights, and Toshi Ways Club wrapped the year with neon Tokyo vibes and cluster pays. These weren't cookie-cutter slots; each packed unique twists like Epic Hidden Bonuses or high volatility that kept sessions unpredictable and fun.
Financial Highs Amid Steady Expansion
Money-wise, 2025 was solid gold for Hacksaw. Revenue for the first nine months hit 142.4 million euros, up 52 percent from the year before. Adjusted operating profit clocked in at 116.5 million euros, holding an impressive 82 percent margin. Net profit surged to 100.8 million euros. Breaking it down, the third quarter alone brought 52 million euros in revenue, a 39 percent jump year-over-year, with operating profit at 42.1 million euros. Cash flow nearly doubled too, reaching 104.3 million euros over those nine months. No major losses in sight—just consistent growth fueled by smart licensing and a ballooning player base over nine million monthly uniques. Their model of high-margin game distribution paid off big, especially as they tapped into regulated spots worldwide.
