On April 2, 2025, the Swedish Parliament, the Riksdag, made a historic decision to close the country’s last land-based casino, Casino Cosmopol, located in Stockholm. This decision comes after months of deliberation and is part of a broader move to phase out physical gambling in Sweden. The Riksdag’s vote marks the end of an era for land-based casino operations in the country, with the final closure scheduled for January 1, 2026.
The law stipulates that no new operators will be allowed to obtain licenses for physical casinos, marking a clear shift towards online gaming, which has seen a rapid rise in popularity in recent years. The closure is in line with Sweden’s ongoing efforts to regulate the gambling industry and respond to the declining profitability and visitor numbers at land-based casinos.
Declining Popularity and the Rise of Online Gambling
Casino Cosmopol, which once operated four locations across Sweden, has seen a steady decline in both revenue and visitor numbers. The casino’s operator, Svenska Spel, has acknowledged the changing landscape of the gambling industry, attributing the decline to the rapid expansion of online casinos. In fact, Casino Cosmopol’s Stockholm location will remain open until the law takes effect in 2026, but the long-term future of the facility is now in question.
Svenska Spel’s CEO, Ola Enquist, shared his thoughts on the transition, stating, “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. Our focus right now is to support our employees and at the same time stay open and continue to take care of our guests.”
The closure of the casino marks the culmination of a series of shutdowns, starting with the Sundsvall location in 2020, followed by the Gothenburg and Malmö casinos in February 2024. The reduction in land-based gambling options comes amid a significant decrease in revenue for the division, which saw a staggering 65% drop in income from 2023 to 2024.
The Impact on Employees and the Gaming Market
Despite the decision, Svenska Spel is committed to supporting its employees during the transition. The casino’s closure is expected to affect approximately 240 workers, and negotiations with unions are underway to ensure a smooth liquidation process. Svenska Spel is also working to sell the casino property at Kungsgatan 65 in Stockholm, with plans for the sales process to begin soon.
While the closure of land-based casinos in Sweden is framed as a necessary step in response to evolving consumer behavior and market dynamics, the decision has not been without controversy. Sweden’s gambling regulator, Spelinspektionen, has expressed concerns that the closure could lead to an increase in illegal gambling, as players may seek out unregulated alternatives. The police have also raised similar concerns, although both agencies are yet to comment directly on the latest developments.
A Shift in Gambling Regulations
The Swedish Gambling Authority, Spelinspektionen, has been vocal in its opposition to the elimination of land-based casinos, citing the potential rise in illegal gambling as a significant risk. The regulator has also pointed out that it will need additional resources to monitor illegal gambling activities, particularly as former casino patrons may turn to unauthorized venues.
This move to close land-based casinos marks the end of a significant chapter in Sweden’s gambling history. As the country adapts to the growing influence of online gambling, the regulatory framework will likely continue to evolve to ensure that players are protected and that the industry remains safe and fair.
Source:
„State casinos to be discontinued“, Riksdagen, April 2, 2025.
