This is our own slot rating based on how popular the slot is, RTP (Return To Player) and Big Win potential.
Play the Phoenix Graveyard 2 free demo slot—no download required! Try ELK Studios’s latest game, enjoy risk-free gameplay, explore features, and learn game strategies while playing responsibly. Read our expert Phoenix Graveyard 2 slot review with ratings for key insights before you play.
Released:August 5 2025
Responsible Gaming
You have to be 18 years or older to play our demo games. Please confirm that you are of the legal age to proceed:
Malta-License (EU)
Malta-License (EU)
Malta-License (EU)
Curacao-License
Curacao-License
Malta-License (EU)
Curacao-License
Curacao-License
Curacao-License
Curacao-License
Curacao-License
Malta-License (EU)
Curacao-License
Curacao-License
Phoenix Graveyard 2 Slot by ELK Studios resurrects the eerie aesthetic of its predecessor with upgraded gameplay and dark thematic consistency. Set in a haunted old town shrouded in moonlight, this high-volatility slot delivers a spooky experience driven by battling wilds, feature rows, and a max win potential of 25,000x. Released via Light & Wonder, the game builds on the original’s cult following and adds innovative mechanics, like the Phoenix vs Reaper Wild Battle, powered-up feature splits, and a gritty bonus structure sure to keep thrill-seekers spinning.
Phoenix Graveyard 2 has a layout that consists of 5 reels and up to 1024 paylines / ways. The game has several features including Buy Feature, Feature Row, Increasing Multiplier, Multiplier Wilds, Random Wilds, Respins, Split Symbols, Walking Wilds, Xiter, and more. Phoenix Graveyard 2 also has a free spins bonus round and this is usually where you can win the big money.
The standard RTP (Return to Player) for Phoenix Graveyard 2 slot is 94% (Could be lower on some sites). This payback is rather low and considered to be below average for an online slot. Theoretically, this means that for every €100 put into the game, the expected payout would be €94. However, the RTP is calculated on millions of spins, which means that the output for each spin is always random.
The highest possible payout for this slot is 25000x your total bet which is very high and gives you the chance to win really big wins. The maximum possible win is also calculated over a huge amount of spins, often one billion spins.
Phoenix Graveyard 2 is a medium volatile slot, and ELK Studios rates the volatility to 3/5. Volatility, in the context of slot games, refers to how often and how much a slot game pays out. Phoenix Graveyard 2 may not result in the substantial wins that high volatility slots can deliver, but it does provide a more predictable and consistent winning experience. This makes Phoenix Graveyard 2 a popular choice among players who prefer a game with medium risk.
Phoenix Graveyard 2 continues ELK Studios’ tradition of pushing design and mechanics into unconventional territory. The expanded feature list and eerie visuals offer both depth and atmosphere. Positives include the dynamic wild system, high win potential, and thematic coherence. Negatives? A lower-than-average RTP (94%) and highly volatile gameplay may not suit casual players. Still, for risk-takers, this slot delivers bone-chilling entertainment with strategic layers worth exploring.
This is our own slot rating based on how popular the slot is, RTP (Return To Player) and Big Win potential.
Yes! You can enjoy Phoenix Graveyard 2 in demo mode without signing up. Try our free version above to explore the features. For real money play, visit one of our recommended ELK Studios casinos.
To play for real money:
The slot offers a massive max win of 25000x your stake.
Example: A €1 bet could return up to a staggering €25000.
Yes! Most of our featured ELK Studios casinos on this page offer welcome packages that include free spins or bonus cash usable on Phoenix Graveyard 2. Always check the terms before claiming.
Absolutely. The game is fully optimized for mobile devices, including iOS and Android.
Yes, the demo mirrors the full version in gameplay, features, and visuals—just without real money payouts.