Hacksaw Gaming Achieves 100% Growth, 19x Earnings, and Maintains Strong Capital Discipline

Company Overview: Hacksaw Gaming AB, a publicly listed iGaming content supplier, has demonstrated extreme profitability with an 85% EBITDA margin and a business model that allows for low capital requirements and high scalability through its proprietary Remote Gaming Server (RGS).

Growth and Profitability: The company has doubled its revenue over the past two years, reaching 137 million in 2024, while maintaining a strong focus on returning 75% of net profits to shareholders through dividends or buybacks, showcasing a disciplined capital allocation strategy.

Market Position and Risks: Hacksaw's global reach and regulatory compliance provide a competitive advantage, but it faces risks such as customer concentration, regulatory exposure, and the need for continuous innovation to maintain its growth trajectory.

Investment Appeal: With a market cap of around 1.77 billion and a commitment to shareholder returns, Hacksaw presents an attractive long-term investment opportunity, especially given its strong financial performance and management's alignment with owner interests.