Hacksaw Gaming is a B2B content and technology supplier, not a chain of consumer casinos. A market launch, a supplier authorisation and a casino-operator partnership are three different claims. To establish where a game may lawfully reach players, the useful questions are: which legal entity holds what permission, from which authority, for which activity and territory, and through which licensed operator?
The Swedish-listed parent is Hacksaw AB (publ). Several group companies provide regulated services, while independent casinos present the games to players. The Hacksaw Gaming overview explains the corporate group; this page examines the legal and commercial delivery routes. Unless explicitly described as independently verified, local permissions in the tables below are issuer-listed claims as at 8 November 2026, not newly certified regulator records.
How Hacksaw reaches a regulated market
The distribution chain has distinct commercial and legal functions. The supplier develops or hosts games under its applicable permissions. A distributor or aggregator, where involved, provides an additional contractual or technical route. The casino operator supplies gambling to its own customers under the operator's relevant authorisation. The player ordinarily interacts with that operator's website, account, cashier and terms, not a separate consumer casino owned by Hacksaw.
| Stage | Role in the chain | What must not be inferred |
|---|---|---|
| Hacksaw legal entity | Game software, hosting, platform or distribution service within its permission | A supplier approval is not universally a retail casino licence |
| Optional intermediary | Content aggregation and technical delivery to operators | A distributor is not necessarily a group subsidiary |
| Independent licensed operator | Offers games and maintains the player-facing casino relationship | A partnered brand is not automatically owned by Hacksaw |
| Player | Uses the operator's regulated product and account | Access in one territory does not prove availability elsewhere |
Operators may receive games directly or through an aggregator. The economics are covered in our Hacksaw business model analysis.
Which companies hold Hacksaw's licences?
Legal identity matters more than brand shorthand. One group can use several subsidiaries with similar names and different roles. The public licence index itself states that various entities within Hacksaw are regulated; it does not identify the same holder in every jurisdiction.
| Entity | Public identity | Relevant distinction |
|---|---|---|
| HGMT Limited | Malta company C84111 | Named by Hacksaw for MGA MGA/CRP/501/2018, UKGC 54059 and Swedish software permit 23Si638 |
| Hacksaw Operations Limited | Separate Malta company C84139; overseas UK company registration FC040228 and establishment BR025338 | A UK establishment is not a newly incorporated UK Ltd, nor does it transfer HGMT's authorisations |
| HGIM Limited | Isle of Man company 018989V | Listed by the issuer for Isle of Man software supply; separate from HGMT |
| Hacksaw AB (publ) | Swedish listed parent | Ownership of subsidiaries does not itself confer every operating permission on the parent |
An overseas-company filing does not establish casino ownership or transfer group licences. See Hacksaw brands and subsidiaries.
UKGC and MGA: what HGMT can supply
The British example gives an unusually clear, regulator-level answer. The UK Gambling Commission public register identifies HGMT Limited, account 54059, with the combined reference 054059-R-331396-007. On the register viewed for this review, the following activities were Active, with commencement dates of 2 October 2019:
| UKGC record | Activity | Status shown in public register | Implication |
|---|---|---|---|
| 054059-R-331396-007 | Gambling Software: Remote | Active, from 2 October 2019 | Authorised software-related activity within the licence conditions |
| 054059-R-331396-007 | Game Host (Casino): Remote | Active, from 2 October 2019 | Hosting casino games through operators' platforms, under the specific host category |
Both entries use the same current licence reference. An older company footer bearing a suffix ending -002 should not be counted as a second current licence or silently substituted for the public-register version. The UKGC distinguishes a casino game host, which provides facilities through another operator's platform, from a retail-facing casino operator that contracts with players itself. The word casino in a host licence is therefore not evidence that HGMT takes deposits, owns every casino featuring its games or holds an unrestricted consumer casino-operating licence.
Malta provides the second core example. Hacksaw's issuer licence index names HGMT Limited (C84111) and MGA/CRP/501/2018 under the Malta Gaming Authority's B2B Critical Gaming Supply framework. Its current listing distinguishes Type 1 and Type 3. The company's 15 October 2026 announcement says the MGA approved an extension of the existing B2B permission to Type 3 activities in connection with Hacksaw Markets, its prediction-markets infrastructure project.
This does not automatically authorise a UK betting exchange, US derivatives exchange or European retail accounts. Specific register entries and conditions prevail over marketing descriptions.
The licensing map beyond Britain and Malta
Hacksaw's official index listed 18 authority/product entries when reviewed. The table reproduces their distinct categories while separating independently checked UK evidence from issuer-declared entries. A category such as recognition notice, provisional permit or filing acceptance must retain its name; converting them all into “full casino licences” would mislead the reader.
| Authority / territory | Permission or regulatory status reported by Hacksaw | Holder and verification level, 8 November 2026 |
|---|---|---|
| MGA: Malta | B2B Critical Gaming Supply, Types 1 and 3 | Issuer-reported: HGMT C84111; the individual licence conditions define the scope |
| UKGC: Great Britain | Gambling Software: Remote; Game Host (Casino): Remote | Regulator-verified: HGMT 54059, two active UKGC activities |
| HGC: Greece | Type A1 Manufacturer Suitability | Holder/status not independently verified: issuer identifies HGMT, HGC-000055-MN |
| ONJN: Romania | Class 2 software distribution | Holder/status not independently verified: issuer identifies HGMT, L2223924Y001379 |
| AGCO: Ontario | Gaming-Related Supplier Registration | Holder/status not independently verified: issuer identifies HGMT, GRSM1241574; Ontario only |
| Spelinspektionen: Sweden | B2B Gambling Software Permit | Issuer-reported: HGMT, 23Si638; not a retail operator licence |
| Spillemyndigheden: Denmark | Gaming Provider Licence | Issuer-reported: 24-432338; current status not independently confirmed |
| GSC: Isle of Man | Software Supply OGRA Licence | Issuer-reported: HGIM 018989V; stated expiry 3 January 2027, renewal unverified |
| DGJCMT / Mincetur: Peru | B2B Service Provider Permit | Holder/status not independently verified: exact entity and number unresolved |
| CGA: Curaçao | Certificate of Operation | Holder/status not independently verified: certificate cannot be treated as a retail casino licence |
| West Virginia Lottery: US | iGaming Supplier Licence | Holder/status not independently verified: current state record and number not independently confirmed |
| MGCB: Michigan, US | Provisional Internet Gaming Supplier Licence | Holder/status not independently verified: provisional is the issuer's wording, not verified current status |
| PGCB: Pennsylvania, US | Interactive Gaming Manufacturer | Issuer-reported: current local holder and status not independently confirmed |
| DGE: New Jersey, US | Acceptance of CSIE filing | Holder/status not independently verified: filing acceptance is not full licence issuance |
| Anjouan | Recognition Notice | Holder/status not independently verified: recognition notice only |
| DCP: Connecticut, US | Online Gaming Service Provider | Issuer-reported: March 2026 permission; current holder ID not independently verified |
| AGLC: Alberta | iGaming Goods/Services and Critical Gaming Systems Supplier | Holder/status not independently verified: Alberta only; precise scope not independently confirmed |
| LOTBA: Buenos Aires City | Manufacturer and/or Supplier for Online Gaming | Holder/status not independently verified: city only, local ID unresolved |
Reading the evidence: the UK row is supported by a current regulator summary; issuer-described categories are attributed to the company's licence index; some holder-level records remain unresolved. The index does not establish that each row is a standalone full licence, that its holder is HGMT, or that every permission is valid indefinitely. The issuer's separate claim of reaching 40-plus locally licensed markets describes commercial distribution reach, not 40 supplier permits or 40 owned casinos.
The issuer lists an Isle of Man expiry of 3 January 2027; a later renewal has not been established here.
United States: five separate regulatory questions
There is no single nationwide “Hacksaw Gaming US licence” established by these materials. The company lists permissions or stages in several states; each regulator, product category and operator relationship must be assessed separately. An announcement about FanDuel in one state does not validate supply to every site run by FanDuel elsewhere.
| State | Status evidenced in issuer material | What to verify before calling it a current permission |
|---|---|---|
| Pennsylvania | Interactive Gaming Manufacturer entry; content launched with FanDuel in July 2025 and other operator releases | Current PGCB record, specific supplier company and products |
| West Virginia | iGaming Supplier entry; DraftKings distribution reported in 2023 | State supplier registration and present scope |
| Michigan | Provisional Internet Gaming Supplier | Whether provisional status remained, changed or expired; do not silently promote it |
| New Jersey | CSIE filing acceptance | Whether any later authorisation was actually issued; acceptance alone is insufficient |
| Connecticut | Online Gaming Service Provider; issuer states March 2026 permission and FanDuel launch on 2 November | Independent DCP holder/number and continuing product scope |
The Connecticut example demonstrates the difference between three milestones. In March 2026, Hacksaw says it secured a supplier permission. On 2 November 2026, it announced the FanDuel go-live for Connecticut. That is evidence of a commercial release via an independent operator on the announcement date. It is not evidence of permission to offer every Hacksaw product in every state, or that all slots remain available to every player today.
Pennsylvania's July 2025 FanDuel launch does not establish permissions in other states. In New Jersey, filing acceptance is not synonymous with full licence issuance.
Canada, Europe and Latin America: local scope matters
Ontario and Alberta are separately named Canadian provincial jurisdictions. An Ontario gaming-related supplier registration does not cover Alberta automatically, and an Alberta supplier listing does not establish approval across Canada. Hacksaw's Q3 2026 report stated that games became available in locally licensed Alberta. The specific operating framework and holder should be checked against provincial records when making a current legal claim.
In Argentina, the report describes availability in Buenos Aires City, not all of Argentina or even automatically the separate Province of Buenos Aires. That distinction is crucial because regulators and authorised product lists can differ geographically. An invoice issued from Malta, a Swedish corporate parent and a game served to a player in Buenos Aires do not create the same legal location.
In Europe, the issuer reported an October 2026 expansion with Sazka Hry in the Czech Republic, as well as the addition of Bally's Intralot in Britain. These are commercial routes through independent operators, not evidence that those brands belong to Hacksaw. The issuer said its Czech distribution partnerships reached a substantial share of the locally regulated operator network; that must not be recast as Hacksaw's revenue share or a market-wide operating licence.
In Greece, Romania, Denmark and Sweden, integrations still depend on current local holder records, authorised activities and technical requirements.
Which operators and aggregators distribute Hacksaw games?
Commercial announcements provide dated evidence of routes to market. The names below are examples, not a register of subsidiaries or a promise that every title remains live. In particular, operator agreements and aggregator integrations are different relationships.
| Partner or route | Territory / dated event | Evidence limit |
|---|---|---|
| DraftKings | West Virginia distribution reported in 2023 | A state-specific distribution example, not all-US supply authority |
| FanDuel | Pennsylvania launch July 2025; Connecticut launch announced 2 November 2026 | Operator go-live, not ownership or perpetual title availability |
| BetMGM | Pennsylvania commercial launch described in company release | Requires date- and state-specific reading; does not establish all-state approval |
| Sazka Hry / Allwyn Česko | Czech expansion announced 7 October 2026 | Independent distribution relationship; not a Hacksaw subsidiary |
| Bally's Intralot | New UK relationship announced 16 October 2026 | Issuer's UK network claim, not number of Hacksaw-owned casinos |
| GR8 Tech and other aggregators | Technology/distribution integration described commercially | Supplier-listing evidence does not replace a regulator's licence record |
Hacksaw's 16 October UK announcement referred to a network of 72 UK operator partnerships. This is a dated company claim about commercial relationships. It is not a count of owned websites or retail licences, nor proof that every agreement is active in precisely the same form today. Partner logos similarly cannot tell us who processes deposits, holds the customer contract or bears each local regulatory obligation.
For brands such as Sky or William Hill, promotional mentions do not establish ownership or current game availability.
What a licence or launch does not prove
Our evidence hierarchy is deliberately conservative. A regulator's current holder-level record is stronger evidence for licence status than an issuer index. An issuer announcement is strong evidence that the company announced a deal or launch on a stated date, but it does not independently establish all local conditions, future availability or ownership of the partner. An aggregator's profile, casino directory or marketing article is weaker still for questions of regulatory scope.
Three boundaries are particularly important:
- Supplier versus consumer operator: HGMT's UK casino-game-host category does not, by itself, make it the company that contracts with casino players and holds their balances.
- Regulatory status versus pending process: Michigan's provisional description and New Jersey's filing acceptance must not be renamed ordinary full licences without subsequent regulator evidence.
- Existing casino supply versus new products: the October Hacksaw Markets B2B prediction-platform launch and Malta Type 3 extension do not establish a UK exchange authorisation, a US CFTC-regulated exchange permission or a worldwide retail prediction-market licence.
Neither a signed commercial partnership nor a company map proves the local availability of a particular game. For the financial meaning of distribution growth, see Hacksaw financial results; for regulatory downside, see Hacksaw risks and opportunities.
Our conclusion: Hacksaw has broad, documented B2B distribution ambitions and multiple jurisdiction-specific supplier permissions. The strongest legally precise example is HGMT's active UKGC record; the wider 18-row issuer index is useful only when its different statuses and unresolved holders remain visible. A reader should leave this page knowing not merely where a company says its games appear, but what evidence would prove it is permitted to supply them there.
Documentary basis: UK Gambling Commission public register, HGMT Limited account 54059, viewed for this 8 November 2026 review; Hacksaw Group licence index; MGA holder information and 15 October 2026 Type 3 announcement; Hacksaw Interim Report January to September 2026; issuer statements concerning Sazka Hry, Bally's Intralot, FanDuel and state/provincial supply; published corporate entity identifiers.