Fredrik Elmqvist, the visionary behind Yggdrasil, is back with EXCO, a bold new studio aiming to shake up slot gaming with originality, edge, and purpose. We had the pleasure to video interview Fredrik Elmqvist, the CEO of EXCO. The video is also available on YouTube.
Fredrik Elmqvist, best known as the founder of Yggdrasil, returns to the iGaming stage with EXCO, short for Excommunicado. This brand-new game studio is focused on creating high-quality slot games with unique mechanics and creative direction. In this interview, Fredrik reveals his motivation, studio strategy, and what players can expect from their upcoming titles.
EXCO was founded in 2025 with a clear intention: to shift the industry’s focus from mass production to craftsmanship in slot design. “We take slot making pretty seriously,” Fredrik said, emphasizing that the studio is focused on releasing only games that meet their internal standards for originality and polish.
“The idea was to break the volume of games and start focusing on quality instead.”
Although EXCO is still in its early days, its appearance at the SBC Summit Malta marks a significant milestone. Operators, streamers, and peers were introduced to early demos and responded with strong feedback. Currently, the studio has three games in production, with the first release expected in September 2025.
“This is like a kickoff for us. Getting real-time reactions and calibrating our roadmap early.”
Fredrik made it clear that EXCO's games will steer away from overused slot themes. No leprechauns, no buffaloes, no diamonds. Instead, the roadmap includes original game narratives and mechanical innovations. Each of the first 10 games has been designed with a unique concept and math model from the ground up.
The first title, "Feared, Loaded, Vegas", is inspired by films like Fear and Loathing in Las Vegas and The Hangover, combining an escalating party vibe with fast-paced slot action.
Fredrik provided a walkthrough of an early version of the game. Key features include:
Players can adjust volatility through different bonus options. Some bonuses are exclusive to purchase rather than triggered in gameplay, adding an extra layer of strategy and unpredictability.
“You're not going to see anything typical. These are true original game concepts.”
Fredrik shared a frank opinion on responsible gaming. While he supports regulation related to age control and self-exclusion, he believes that studios should retain creative freedom and avoid being limited by stake caps or imposed mechanics.
“As a game provider, we should just deliver the best games.”
On fairness, EXCO uses tested RGS infrastructure and ensures that games are transparent. Provably fair technology is not yet implemented but may be introduced later. Fredrik believes players quickly spot unfair games, and any issues would be called out in forums and communities.
As the sole shareholder, Fredrik enjoys the freedom to control the pace and priorities of the company. This means no pressure from investors and no artificial deadlines. A game is released only when it meets the studio’s internal criteria.
“We are not steered by a production schedule. When the game is ready, we ship it.”
The studio plans to release games with a default RTP of 96%, with a 94% version available where required by market conditions. Fredrik also mentioned a free-to-play preview launching in August, ahead of the official release in September. Future titles will continue to explore custom volatility levels, loot box-style bonus buys, and surprising visual themes.
EXCO is preparing to shake up the slot gaming landscape with its unique style, unapologetic originality, and attention to detail. If you are a player who values depth, theme coherence, and bold mechanics, EXCO’s upcoming releases may be exactly what you are looking for.
“Keep your eyes open. We’re not here to play it safe.”