Sweden to close the final land-based casino
Sweden’s Riksdag Approves Closure of Land-Based Casino Operations, Marking a Significant Shift in the Gambling Landscape
In a landmark decision, the Riksdag, Sweden’s parliament, has sanctioned the cessation of land-based casino operations, leading to the impending closure of the last state-operated Casino Cosmopol in Stockholm. This move signals a transformative moment in the Swedish gambling industry, driven by evolving consumer preferences and a rapidly expanding online gambling market.
Declining Visitor Numbers and Profitability at Casino Cosmopol
The Riksdag underscored that current land-based casinos no longer serve their intended purpose, citing significant drops in visitor numbers and profitability at Casino Cosmopol. The establishment, which is operated by Svenska Spel under a state monopoly, has seen a marked decline in patronage, raising questions about the viability of traditional casino models in a digital-first era. As part of the new legislation, no further applications for casino licenses will be permitted, effectively sealing the fate of land-based gaming in the country. The amendment is set to take effect on January 1, 2026, signifying the end of an era for brick-and-mortar casinos in Sweden.
Industry Perspectives: Support for the Decision
Responding to the announcement, Svenska Spel expressed its alignment with the governmental decision and signaled the commencement of the process to wind down operations at the Casino Cosmopol venue in Stockholm. CEO Ola Enquist echoed these sentiments, highlighting the pivotal role that the surge in online gambling has played in the decline of land-based casinos. “We share the government’s assessment and have been prepared for the Riksdag’s decision,” remarked Enquist. “However, it is undeniably tough on an emotional level as we prepare for the closure of the casino in Stockholm. Our immediate focus is to support our employees while continuing to serve our guests.”
Transitioning from Land-Based to Online Gambling
The comprehensive shift from physical casinos to online platforms reflects broader trends within the global gambling sector. The convenience and accessibility of online gaming have rendered traditional land-based operations increasingly obsolete. In response to these changes, Svenska Spel closed its Sundsvall casino in 2020, followed by Gothenburg and Malmö locations in February 2024. Consequently, the Stockholm venue now remains the sole outlet, employing nearly 240 staff members.
Future Steps and Employee Support Initiatives
The next phase involves revising ownership instructions that guide Svenska Spel’s operations, enabling the orderly closure of Casino Cosmopol. During Svenska Spel’s upcoming annual general meeting on April 24, these pertinent issues are slated for discussion. Enquist articulated the company’s commitment to transparency in this transition, stating, “We aim to provide more detailed information about the closure timeline after the annual meeting.” Additionally, efforts are underway to ensure a smooth transition for employees, including initiating union negotiations to discuss the implementation of the closure while prioritizing the future careers of affected staff.
Conclusion: Embracing the Future of Gambling in Sweden
The recent decisions by the Riksdag herald a significant evolution in Sweden’s gambling landscape. As land-based casinos phase out, the burgeoning online gambling sector stands poised to fill the void, highlighting the transformative trends reshaping the industry. Stakeholders are urged to remain vigilant and adaptable as they navigate this unprecedented transition, ensuring they harness the opportunities presented by the digital era.
