Svenka Spel closes Casino Cosmopol

Svenska Spel has announced the permanent closure of Casino Cosmopol in Stockholm, effective immediately. This significant decision follows a directive from the Swedish Parliament to phase out all land-based casino operations by December 31, 2025.

The closure aligns with updated regulations received on April 24, indicating a decisive shift within Sweden’s gambling landscape. As part of this transition, remaining land-based casinos will gradually cease operations, adhering to the newly established guidelines.

This closure affects approximately 240 employees, prompting Svenska Spel to initiate discussions with trade unions to ensure a smooth transition. A career fair will be organized in Stockholm, akin to events that were previously held in Malmö and Gothenburg, allowing affected employees to explore new job opportunities.

Casino Cosmopol operated within a government-sanctioned monopoly framework. The closure necessitated an official amendment to ownership guidelines, successfully finalized after consultations with unions. Notably, previous closures in the sector include the Sundsvall casino in 2020 and those in Gothenburg and Malmö in February 2024.

Ola Enquist, CEO of Casino Cosmopol, commented: “We have engaged in constructive dialogue with unions about the closure to ensure we minimize disruption for our employees. Following the model established during the closures in Malmö and Gothenburg, we are committed to organizing a career fair in Stockholm, featuring various companies seeking new talent.”

Anna Johnson, President and CEO of Svenska Spel, stated: “For over 20 years, Casino Cosmopol has provided an unparalleled international gaming experience for guests from around the globe. While this chapter comes to a close, we are focused on supporting our staff and preparing for the future of the gaming industry in Sweden.”

This strategic shift in Sweden’s gambling sector underscores the importance of adapting to regulatory changes and market dynamics. As land-based operations wind down, stakeholders will likely explore innovative opportunities in online gaming platforms, which continue to gain traction in both user engagement and revenue generation across the industry.

In conclusion, the closure of Casino Cosmopol marks a pivotal moment for the Swedish gambling industry. By prioritizing employee support and engaging in proactive dialogue, Svenska Spel is setting a precedent for responsible industry practices amidst significant changes.