Sweden calls time on land-based casinos
The government has begun plans for the liquidation of Svenska Spels’ state-owned Casino Cosmopol.
Sweden.- The Swedish parliament has approved a proposal to abolish land-based casino gaming in the country. The move will mean the closure of state-owned Svenska Spel’s remaining flagship Casino Cosmopol venue in Stockholm.
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. In May last year, the government proposed the complete closure of the land-based business by January 1 2026 and the removal of the condition in Svenska Spel’s licence that allows it to operate land-based casinos
The government had argued that Casino Cosmopol “no longer fulfils its purpose” and faced challenges to achieve profitability. Svenska Spel agreed with the assessment.
In Parliament yesterday (April 2), this view was reiterated, with land-based casinos being deemed redundant. 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 casino’s real estate at Kungsgatan 65 in Stockholm will be sold.
Svenska Spel CEO Ola Enquist said the closure would be an emotional moment but that the continuation of land-based casino gambling was unsustainable following the shift of players to online gaming. She said the Stockholm casino will remain open until further notice and that its nearly 240 employees would be helped to transition to other careers. Union negotiations are in progress, she said.
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.
However, 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
