Sweden to discontinue land-based casino gambling
Announced yesterday (2 April), the Riksdag said land-based casinos in Sweden no longer serve their purpose. Parliament pointed to declining profitability and visitor numbers at Casino Cosmopol.
Svenska Spel holds the monopoly for land-based casinos gambling in the country. It runs the Casino Cosmopol-branded casinos under the instruction of the state. As such, when the new law comes into effect, no other operator will be permitted to obtain a licence to run their own casinos.
A proposal to discontinue Casino Cosmopol was first tabled last May. As per the initial plans, the Riksdag has confirmed the amendment will become effective from 1 January 2026. From this date, land-based casinos will not be permitted in Sweden.
Svenska Spel supports closure of land-based casinos
Responding to the announcement, Svenska Spel said it supports the decision to discontinue land-based casinos. The operator will now begin the process of liquidating the final Casino Cosmopol location and ready it to close its doors for good.
It did, however, confirm the Casino Cosmopol location in Stockholm will remain open “until further notice”.
Commenting on the decision, Casino Cosmopol CEO Ola Enquist shared the government’s concerns over the division’s performance in recent years. Enquist said the rise of online gambling in Sweden has turned more players away from land-based casinos.
“We share the government’s assessment and have been prepared for the Riksdag’s decision,” Enquist said. “Nevertheless, it is of course emotionally tough because it means that an era will end when the casino in Stockholm eventually closes.
“Our focus right now is to support our employees and at the same time stay open and continue to take care of our guests.”
Liquidation talks already under way
At one point, four Casino Cosmopol locations were open, but Sundsvall closed in 2020. Svenska Spel also announced the permanent closure of its casinos in Gothenburg and Malmö in January last year.
Casino Cosmopol in Stockholm is the last remaining land-casino casino in Sweden. It employs just under 240 people. Talks have already started over liquidation and how the operator will support staff moving forward.
“We’ve initiated union negotiations and are holding a dialogue on how a liquidation should be carried out so that it is as good as possible,” Enquist said. “We are also keen to help our employees continue in their working lives after closure.”
During 2024, the Casino Cosmopol business generated SEK165 million (£12.9 million/€15.4 million/$16.9 million). This was 65% lower than the previous year, primarily due to the closure of the two locations earlier in the year. In comparison, its Tur lottery arm drew SEK5.14 billion in total revenue.
Regulator concerns over casino closures
The decision to proceed with the closure comes despite opposition from market regulator Spelinspektionen. Last August, it claimed this could lead to a rise in illegal gambling within the country’s land-based market.
Spelinspektionen said it had “no substantive views” on the closure plans. However, it did flag its concerns about how this could impact the prevalence of illegal gambling. The country’s police authority put forward a similar response.
On this, the regulator said it would need more funding to tackle the expected rise in illegal land-based gambling. This, it added, could force it to reallocate certain resources.
The regulator is yet to respond to yesterday’s announcement.