Sweden to Phasing Out Land-Based Casino Gambling

Stockholm, Sweden – April 3, 2025 – In a landmark decision, the Swedish parliament, known as the Riksdag, has voted to discontinue land-based casino gambling, resulting in the planned closure of the last state-owned casino, Casino Cosmopol in Stockholm. This decision, announced on April 2, 2025, reflects the government's view that physical casinos are no longer viable in light of declining visitor numbers and profitability.

Svenska Spel, which operates the Casino Cosmopol venues under state direction, confirmed that the closure will take effect on January 1, 2026. Following this new legislation, no other operators will be allowed to obtain licenses for land-based casinos in Sweden.

Support for the Transition

Svenska Spel expressed support for the decision, emphasizing its commitment to a smooth transition as the final Casino Cosmopol location is prepared for liquidation. Despite the impending closure, they stated the Stockholm venue will remain operational “until further notice.”

Casino Cosmopol’s CEO, Ola Enquist, acknowledged the concerns raised by the government regarding the performance of land-based casinos. He noted that the increasing popularity of online gambling has drawn many players away from physical venues. “We share the government’s assessment and have been prepared for the Riksdag’s decision,” Enquist remarked. “It is, however, emotionally tough because it marks the end of an era for the Stockholm casino.”

Liquidation Process Underway

With the imminent closure of Casino Cosmopol, liquidation discussions have commenced. Once a chain of four casinos, only the Stockholm location now remains, employing nearly 240 individuals. Earlier in 2020, the Sundsvall location was shuttered, followed by the permanent closures of casinos in Gothenburg and Malmö in January 2024. Enquist stated that Svenska Spel has initiated negotiations with employee unions to ensure that the liquidation process is managed effectively. “Our focus remains on supporting our employees and facilitating their transitions into new employment opportunities,” he said.

In its latest financial report, Casino Cosmopol generated SEK165 million (approximately £12.9 million or €15.4 million) in 2024, a decrease of 65% from the previous year, mainly due to the earlier closures. In comparison, Svenska Spel’s lottery arm, Tur, reported total revenues of SEK5.14 billion.

Regulatory Concerns

While the Riksdag has moved forward with the closure, there are concerns raised by market regulator Spelinspektionen regarding the potential rise of illegal gambling due to the reduced availability of regulated land-based options. The regulator highlighted the need for increased funding to counteract potential illegal activities while maintaining their oversight capabilities.

As of now, Spelinspektionen has not issued a formal response to the Riksdag's decision.

This significant shift in Sweden's gambling policy marks the end of an era for land-based casinos in the country, signaling a strong pivot towards online gambling as the preferred gaming option among Swedish players.