Sweden to discontinue land-based casino gambling – Casino
The Swedish Riksdag has officially voted to abolish land-based casino gaming in the country, a decision that will culminate in the closure of the last state-owned Casino Cosmopol location in Stockholm.
Announced on April 2, the Riksdag emphasized that land-based casinos no longer fulfill their intended purpose in the modern gambling landscape. This conclusion stems from a noticeable decline in both profitability and visitor turnout at Casino Cosmopol facilities.
Under the current regulatory framework, Svenska Spel maintains a monopoly on land-based casino operations in Sweden. As the designated operator of Casino Cosmopol-branded casinos, Svenska Spel will not issue licenses for any new casino establishments following the implementation of the new law.
The proposal to phase out Casino Cosmopol was initially introduced in May of last year, with the Riksdag confirming that the amendment will take effect on January 1, 2026. From that date forward, no land-based casinos will be permitted in Sweden.
Svenska Spel Endorses the Closure of Land-Based Casinos
In response to the recent parliamentary decision, Svenska Spel has expressed its support for the termination of land-based casino operations. The operator is set to initiate the process of liquidating the final Casino Cosmopol location and preparing for its permanent closure.
Despite the impending closure, Svenska Spel has confirmed that the Casino Cosmopol in Stockholm will remain operational “until further notice.”
Casino Cosmopol CEO Ola Enquist acknowledged the government’s concerns regarding the division’s performance in recent years, noting that the growth of online gambling has diverted players from physical casinos. Enquist remarked, “We share the government’s assessment and have been prepared for the Riksdag’s decision. Nevertheless, it is, of course, emotionally challenging as it signifies the end of an era when the Stockholm casino ultimately shuts its doors.”
He further emphasized, “Our current focus is on supporting our employees while continuing to provide exceptional service to our guests.”
Liquidation Initiatives Already Underway
At its peak, four Casino Cosmopol locations were operational; however, the Sundsvall facility was closed in 2020, and the casinos in Gothenburg and Malmö were permanently shuttered in January of the previous year. Currently, the Casino Cosmopol in Stockholm stands as the sole remaining land-based casino, employing nearly 240 staff members.
Discussions regarding liquidation and support for employees have commenced. Enquist stated, “We have initiated union negotiations and are having dialogues to ensure the liquidation process is handled as smoothly as possible. We are also committed to helping our employees transition to new opportunities following the closure.”
In 2024, Casino Cosmopol generated SEK 165 million (£12.9 million/€15.4 million/$16.9 million), representing a staggering 65% decrease from the prior year, largely due to the earlier closures of two locations. Notably, during this same period, the Tur lottery segment reported a impressive SEK 5.14 billion in total revenue, highlighting the disparity in performance between traditional casinos and the burgeoning online gambling sector.
Regulator Concerns Regarding Casino Closures
The decision to proceed with the closure has raised alarm among market regulators, notably Spelinspektionen, which warned last August that this development could spur a rise in illegal gambling within the land-based market.
While Spelinspektionen refrained from expressing official opposition to the closure plans, it articulated concerns regarding the potential increase in under-the-radar gambling activities. Similarly, the country’s police authority echoed these sentiments, signaling that enhanced funding will be necessary to address the anticipated rise in illegal land-based gambling, thereby possibly necessitating a reallocation of existing resources.
The regulator has yet to publicly comment on yesterday’s announcement, leaving industry stakeholders and the public alike awaiting further insights into how these developments will shape the future of gambling in Sweden.
