Sweden’s parliament, the Riksdag, has officially voted to shut down the country’s last land-based casino. This landmark decision, announced on 2 April, effectively seals the fate of Casino Cosmopol in Stockholm, owned by the state-run operator Svenska Spel. The closure is set to take effect from 1 January 2026, ending Sweden’s history with physical casinos.
The parliamentary decision came after prolonged struggles with declining visitor numbers and profitability at Casino Cosmopol. Svenska Spel, holding a monopoly on the country’s land-based casino operations, has expressed support for this move, aligning with the government’s perspective that these establishments have outlived their utility in an increasingly digital gambling landscape.
Swedish Casino Monopoly Ends with Cosmopol Closure
Responding promptly, Svenska Spel confirmed it would begin the liquidation process of Casino Cosmopol, yet the Stockholm venue will remain open “until further notice”. Ola Enquist, CEO of Casino Cosmopol, acknowledged the difficult yet necessary nature of this transition, attributing declining footfall to the rise of online gambling. 
“We share the government’s assessment and have been prepared for the Riksdag’s decision,” said Enquist. “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.”
Once part of a thriving network, Casino Cosmopol previously operated four venues. However, Sundsvall was shut down in 2020, and Göteborg and Malmö closed their doors permanently in January 2024. The Stockholm location employs just under 240 staff, who are now facing uncertainty about their future.
Financial Struggles and Employee Support Plans
During 2024, the Casino Cosmopol operations recorded revenue of SEK165 million (£12.9 million/€15.4 million/$16.9 million), marking a steep 65% drop compared to the previous year. This dramatic fall primarily resulted from the closures earlier in the year. In stark contrast, Svenska Spel’s lottery segment, Tur, reported robust revenue of SEK5.14 billion in the same period.
Negotiations with unions have commenced to manage the liquidation process responsibly. Enquist emphasized the company’s dedication to ensuring a smooth transition for employees. “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,” he explained. “We are also keen to help our employees continue in their working lives after closure.”
Regulatory Concerns over Illegal Gambling Spike
Sweden’s gambling regulator, Spelinspektionen, previously voiced concerns that ending legal land-based casinos might inadvertently boost illegal gambling activities. The regulator had “no substantive views” on the closure itself but cautioned that additional funding and resources would likely be necessary to combat potential illegal gambling operations effectively.
The Swedish police echoed similar concerns, predicting a rise in underground gambling activities. While Spelinspektionen has not yet formally responded to the latest announcement, its prior warnings underscore the ongoing challenges Sweden faces as it transitions fully into the digital gambling era.
A recent study conducted by the Swedish Gambling Authority (Spelinspektionen) indicates that 71% of Swedish adults participated in monetary igaming within the last 12 months. This figure aligns with previous years, reflecting a stable trend in igaming participation across the country.
Photo credit: Freepik
