Sweden’s parliament, the Riksdag, has made a significant decision to end land-based casino gambling in the country, with the closure of the remaining Casino Cosmopol location in Stockholm slated for January 2026. This move follows growing concerns about the profitability and relevance of physical casinos in the face of rising online gambling trends. Svenska Spel, the state-owned operator, currently runs the Casino Cosmopol brand and has been given the mandate to liquidate its last remaining venue in Stockholm as part of this sweeping change.
A declining industry:
The decision, confirmed by the Riksdag on April 2, 2025, comes after years of declining revenue for Svenska Spel’s land-based casino operations. In recent years, Casino Cosmopol has struggled to attract visitors, and the industry’s overall profitability has been in decline. For this reason, the Swedish government concluded that physical casinos no longer serve a significant purpose in the country’s gambling landscape. Despite operating as a state-run monopoly, Svenska Spel will now shut down its final casino location and cease any further operations in this sector.
This closure marks the final chapter for Casino Cosmopol, which once had four locations across Sweden, including Gothenburg, Malmö, Sundsvall, and Stockholm. The closures in Gothenburg and Malmö in early 2024 were part of a broader downsizing strategy, leaving only the Stockholm venue. According to the Riksdag’s press release, the decision to fully shutter the Stockholm casino by January 2026 aligns with earlier plans, first proposed in May 2024.
Casino Cosmopol’s CEO, Ola Enquist, expressed understanding of the government’s stance but acknowledged the emotional impact of the casino’s impending closure. In a statement, Enquist remarked, “We share the government’s assessment and have been prepared for the Riksdag’s decision. Nevertheless, it is of course emotionally tough because it means that an era will end when the casino in Stockholm eventually closes.”
The casino’s real estate at Kungsgatan 65 in Stockholm will be sold, and no other operators will be allowed to take over the land-based gaming market in Sweden. It is still unclear whether the Casino Cosmopol brand will continue to exist in some capacity in the online gaming sector.
Employee support and future plans:
As the government’s decision begins to take effect, Svenska Spel is focused on supporting its employees throughout the transition. Currently, the Stockholm casino employs nearly 240 staff members. Efforts are already underway to assist employees with finding new employment opportunities. Enquist emphasized that union negotiations are in progress to ensure that the liquidation process is as smooth as possible. “We’re holding a dialogue on how a liquidation should be carried out so that it is as good as possible,” Enquist stated, noting the company’s commitment to helping staff move forward in their careers.
Despite the setbacks, Svenska Spel’s Tur lottery division remains a major revenue driver for the company, drawing SEK5.14 billion in revenue in 2024. However, Casino Cosmopol’s performance dropped significantly, with its revenue plummeting by 65% compared to the previous year, reaching only SEK165 million.
Concerns over illegal gambling:
The Swedish gambling regulator, Spelinspektionen, has expressed concerns about the potential rise in illegal gambling as a result of closing down the country’s remaining land-based casinos. In a statement, the regulator highlighted the importance of ensuring that adequate resources are allocated to monitor and prevent illegal gambling activities. There are fears that the closure of Casino Cosmopol could drive more players to unlicensed venues, which would require additional oversight.
Both Spelinspektionen and the Swedish police have warned that the shift from land-based to online gambling may lead to a rise in illegal gambling activities, which could impact the overall gambling landscape in Sweden. The regulator has indicated that more funding will be needed to address these challenges, though it has yet to respond directly to the announcement made on April 2.
Despite the closure of Casino Cosmopol and the shifting landscape, Svenska Spel’s online gambling sector is expected to continue thriving. The shift represents a broader global trend, where land-based casinos are seeing decreasing numbers of patrons, while online gaming remains an attractive alternative for both players and operators.