STHLM Gaming: a small Stockholm studio with big swings
STHLM Gaming is a compact Swedish studio with Nordic slot DNA and a taste for high variance. It was founded in 2016 by a former NetEnt manager, changed hands a couple of times, and has built its name on a handful of volatile, well-presented titles rather than a sprawling catalogue. Here is who they are, how the ownership has shifted, and what to check before you play their games.
Who they are
STHLM Gaming launched in 2016 in Stockholm under Jonas Bystrom, who had previously held a senior role at NetEnt, the studio that did more than any other to define the Swedish slot style. That lineage shows in the production values. The studio shipped its first title, Stacks of Riches, in 2017, and in 2018 struck a distribution deal with Relax Gaming, putting its games on the Silver Bullet platform and opening up new markets. Ownership has moved since: Spiffbet acquired the studio in 2019, and in 2023 sold its game-development arm, including STHLM Gaming and Rhino Gaming, to Million Games, where it sits today. For a small studio, the through-line is a focus on a distinctive math model over sheer volume.
The games and the high-variance house style
STHLM Gaming makes high-volatility slots, by design. Its trademarked Smart All Devices technology is a presentation engine built to adapt a game to any screen size, aspect ratio, resolution and orientation, which is a sensible thing for a small studio to get right when most play is on mobile. The maths sit on the higher end of the volatility scale, which means the catalogue is built around less frequent but potentially larger wins rather than a steady drip of small ones. Icarus Wild is the best-known title, and to play Icarus Wild is to feel the studio's intent: a swingy, feature-led slot that asks for patience. Van Gogh and Sunset round out the recognised set, each with the same polished, art-led look the Stockholm scene is known for. This is a studio that competes on craft and character rather than the size of its library.
What to check before you play
Volatility is the headline. These are high-variance games where the bigger wins are rare and the base play can run cold, so stake small and read our volatility guide before you commit. As with every studio, a title can ship in more than one RTP build, so confirm the figure on the info screen the way our RTP guide recommends. Because the wins are concentrated in features that do not arrive often, the discipline of a fixed budget and a loss limit matters more here, not less, so use our responsible gambling tools to set them first. And a good studio never makes a weak casino safe, so check the operator's licence using how to choose a casino.
The verdict
Strengths: genuine Stockholm pedigree, polished art-led presentation, a sensible cross-device engine, and a clear, honest identity as a high-variance studio. Weaknesses: a small catalogue, less brand recognition than its Nordic neighbours, and an ownership history that has bounced around. STHLM Gaming suits players who want Swedish polish and big-swing maths and do not mind a short list of titles to choose from. Find casinos that carry it in our casino reviews, and explore more studios in our provider reviews. 18+.
STHLM Gaming FAQ
Who founded STHLM Gaming?
It was founded in 2016 in Stockholm by Jonas Bystrom, a former senior manager at NetEnt. The studio released its first game, Stacks of Riches, in 2017 and partnered with Relax Gaming a year later.
Who owns STHLM Gaming now?
After Spiffbet acquired it in 2019, the studio was sold along with Rhino Gaming to Million Games in 2023, which owns it today. Despite the changes, it has kept its small-studio, high-variance identity.
Are STHLM Gaming slots high volatility?
Yes. The studio designs for the higher end of the volatility scale, with rarer but larger wins. Stake small so your budget can ride out the quiet stretches, and check the RTP version on the info screen. 18+.