Last land-based casino in Sweden closes its doors marking the end of an era
Svenska Spel’s Casino Cosmopol in Stockholm has closed permanently after more than two decades.
Sweden.- At the start of the month, the Swedish parliament approved a proposal to abolish land-based casino gaming in the country. The measure was due to come into effect by the end of the year, but state-owned Svenska Spel has closed its Casino Cosmopol venue in Stockholm already.
The government measure saw the removal of the condition in Svenska Spel’s licence that allows it to operate land-based casinos. The company received a revised ownership instruction on Thursday, ordering it to close its last casino by December 31. However, it announced on Friday that the casino would close with immediate effect since it was making a loss.
Svenska Spel owns the property at Kungsgatan 65 and has begun a sales process. The move affects around 240 members of staff.
Casino Cosmopol CEO Ola Enquist said: “We gathered all employees and announced that we have closed the casino and will not reopen. It has been known for some time that the ownership instructions would change, and our focus is now on our employees to help them take the next step in their professional lives.
“We have initiated union dialogue about the closure so that it will be as good as possible for everyone. Just as we did with the closures in Malmö and Gothenburg, we will organise a career fair for our employees in Stockholm with several companies invited.”
The end of an era for gambling in Sweden
The end was already in sight for Casino Cosmopol after Svenska Spel closed its casinos in Gothenburg and Malmö in February 2024, leaving only the Stockholm venue. Enquist said the final goodbye was an emotional moment and highlighted the legacy of the Casino Cosmopol brand.
He said: “Although we share the assessment of the Riksdag and the government, it is emotionally tough because an era has ended when we have now closed the casino in Stockholm. As an employer, we will do everything we can to support our fantastic employees. From a business perspective, it is the right decision to close immediately because the business has been at a loss for a long time. I would like to take this opportunity to thank all the guests and teams who have worked in Stockholm over the years.”
He added: “Casino Cosmopol has seen declining profitability and visitor numbers for several years, as more and more people choose to play online, not least at online casinos. To limit losses, Svenska Spel closed the casino in Sundsvall in 2020, and in February 2024 the casinos in Gothenburg and Malmö were also closed. Of the four original casinos, only Casino Cosmopol in Stockholm remains.”
Sundsvall was the first Casino Cosmopol venue, opening in July 2001. The Stockholm venue opened in March 2003.
Anna Johnson, president and CEO of Svenska Spel, added: “For over 20 years, Casino Cosmopol has offered an international casino experience to guests from all over the world. It is sad for our employees that the last casino has now closed, but at the same time, it will give us the opportunity to focus on growth in our other businesses.”
No other operator will be allowed to acquire a license to run land-based casinos in Svenska Spel’s place. It’s not clear if the Casino Cosmopol brand will survive for online offerings. The Swedish gambling regulator, Spelinspektionen, has previously warned that abolishing land-based casinos in Sweden could lead to a rise in illegal gambling. It asked for more funding in order to be able to increase monitoring. The police also raised concerns
Last week, Svenska Spel reported a 4 per cent downturn in revenue for the first quarter of the year. Net gaming revenue came in at SEK 1.88bn (€171.7m). Casino Cosmopol generated SEK165m (€15.4m) in revenue for Svenska Spel in 2024, a drop of 65 per cent year-on-year. That compares to SEK5.14bn (€47.5m) from Svenska Spel’s Tur lottery division.
