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.
Date: June 12, 2025
Location: SBC Summit Malta 2025
Interview with Fredrik Elmqvist at SBC Summit Lisbon 2025:Date: September 25, 2025
Location: SBC Summit Lisbon 2025
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.”
Just three months after their initial appearance at SBC Malta, EXCO successfully launched their first title. Despite the summer slowdown, the team pushed through with the commercial rollout, which went live the previous Thursday.
Production is steadily ramping up. Two additional releases are expected this year, with more titles coming in early 2026. The studio's roadmap appears solid and scalable.
“You will see a gradual ramp up already next year.”
Initial player response has been promising. Streamer events were quickly organized after launch, helping EXCO build momentum and reach new audiences.
“It was a very positive collaboration with a known streamer.”
This hands-on marketing strategy, blending industry events, interviews, and influencer outreach aligns with EXCO’s goal of delivering original, community-approved games.
Fredrik highlighted a multi-channel strategy for raising awareness:
The focus is on authentic engagement, not broad advertising.
“We work with the guys like you... to spread awareness of the studio and the games.”
Fredrik acknowledged the unique pressures of launching a studio from scratch, limited processes, constant ad-hoc decisions, and the need for versatile skill sets across the team. But for EXCO, that’s a feature, not a bug.
“We are thriving in this environment.”
He also dispelled the myth that running a game studio is a dream job. It’s a complex endeavor requiring mastery of everything from art and math models to client development and operations.
“It’s not for everyone, especially not in this competitive environment.”
EXCO’s 2026 roadmap continues the push toward originality. Expect bold mechanics, unexpected themes, and spiky volatility, all wrapped in coherent game concepts.
“You will still see more original titles, original mechanics and functions coming from us.”
The team teased a GTA-inspired title, along with an amusingly named release featuring "Robbin' Goblins." Each game will balance excitement with intuitive gameplay structures.
“It's going to be easy to know exactly what you're waiting for in the game.”