May 2026
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Largest Casinos & Gambling Public Companies in Sweden
Benchmark revenue and EBITDA valuation multiples for public comps like
Evolution, Hacksaw AB, Betsson, Acroud and Gaming Corps.
 | Evolution AB is a B2B provider of live and slots casino systems. The Company develops, produces, markets, and licenses fully integrated online casino systems to gaming operators. The company provides business-to-business solutions, which it develops and produces for gaming operators. Evolution's primary product, Live Casino, allows a human dealer to run a real-time casino table, which is then streamed to digital devices. Players can then place bets on desktops, smartphones, and tablets and communicate with the dealer through Evolution's software. The company's services are licensed to casino operators. The company generates the vast majority of its revenue from Asia. | $76 | +7% | $15B | $14B | 5.7x | 8.5x | ||
| Hacksaw AB (publ) is a B2B technology platform and game development company. The group operates in the iGaming industry, developing, producing, and licensing fully integrated slots, scratch cards, and instant win games to online gaming operators. Hacksaw is a B2B supplier whose customers are online gaming operators in the iGaming industry. | $9 | -- | $3B | $2B | 10.1x | 12.1x | ||
| Betsson AB is a holding company that invests in and manages companies operating in the online gaming industry. The products consist of casino and sports betting. The main category of the casino is slots, or virtual slot machines, followed by the live casino, which provides the player with a virtual, real-life-like casino experience with table games broadcast live from the game provider's studio. Company's brands include either the entire product portfolio, such as Betsson, Betsafe, and Nordicbet, or just one product, such as Racebets (betting on horses) and Jalla Casino (casino). The brands’ services are offered through the proprietary platform that manages payments, customer information, accounts, transactions and a range of games on offer. | $10 | -52% | $1B | $1B | 0.8x | 3.1x | ||
| Acroud AB operates comparison sites mainly within iGaming affiliation to help its partners by directing users to gaming operators. The company generates revenue through internal group services in IT, marketing, financial services, and management. Its operating business segments consist of iGaming affiliation and B2B SaaS Solutions. The iGaming Affiliation Segment that generates maximum revenue includes traditional business areas such as Poker, Sports Betting, and Casino. The SaaS segment provides business solution enabling clients to analyse and monetise their traffic sources. | $0 | +8% | $20M | $32M | 0.6x | 24.4x | ||
| Gaming Corps AB is a digital game developer focusing on traditional and non-traditional premium games for online casinos. The business is focused on several areas, in addition to an established global distribution network of casinos, the company also develops Casino Slots, Table Games, Multiplier Games, Mine Games, Plinko Games and the game series Smash4Cash. | $0 | -24% | $13M | $12M | 2.3x | (3.4x) | ||
| Blick Global Group AB through its subsidiaries invests in internet-based games and online casinos. | $0 | +14% | $1M | $108K | — | 0.1x | ||
| Tangiamo Touch Technology AB designs, develops and manufactures multi-player gaming systems for casinos and arcades, electronic. The company operates in touch technology, electronic table games, and online gaming. The company specializes in sector technologies, visual identification, and AI based systems used in electronic gaming tables for casinos, arcades, and cruises ships, as wwll as in online sectors. | $0 | -- | $430K | $430K | — | — | ||
| Median | $0 | +7% | $20M | $32M | 2.3x | 5.8x |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
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