Sweden To Close Final Land Based Casino

On April 2 the Swedish parliament, known as the Riksdag officially voted to eliminate land-based casino gaming, the vote was prompted by a series of concerns regarding the viability of Casino Cosmopol, the state-run casino operator. Lawmakers indicated that the diminishing profitability and a significant drop in visitor numbers at Casino Cosmopol locations were key factors influencing their decision.

Declining Profitability and Visitor Numbers

The financial performance of Casino Cosmopol has been on a downward trajectory for several years. Reports indicate that the total revenue generated by the Casino Cosmopol business during 2024 amounted to SEK 165 million, which translates to approximately £12.9 million or €15.4 million. This figure represents a staggering 65% decline compared to the previous year, primarily due to the closure of two locations in Gothenburg and Malmö.

Svenska Spel, the state-owned gambling operator, holds a monopoly on land-based casino operations in Sweden. This means that no other entities can obtain licenses to operate casinos within the country. The recent decision by the Riksdag effectively consolidates this monopoly, as the law will prohibit any future land-based casino licenses once it comes into effect on January 1, 2026.

The response to the Riksdag’s decision has been mixed, with various stakeholders offering their perspectives on the implications of discontinuing land-based casinos.

Svenska Spel has expressed its support for the Riksdag’s decision to terminate land-based casino operations. The operator has signaled its intention to begin the liquidation process for the remaining Casino Cosmopol location in Stockholm, which is the last operational land-based casino in Sweden. However, the Stockholm location will remain open “until further notice” as the operator navigates the transition.

CEO’s Perspective on the Closure

Ola Enquist, the CEO of Casino Cosmopol, acknowledged the government’s concerns regarding the casino’s performance in recent years. He highlighted that the rise of online gambling has diverted many players away from traditional, land-based venues. Enquist’s statement reflects a broader trend in the gaming industry, where digital platforms are increasingly dominating the market.

“We share the government’s assessment and have been prepared for the Riksdag’s decision,” Enquist stated. “Nevertheless, it is of course emotionally tough because it means that an era will end when the casino in Stockholm eventually closes.”