Sweden announces the shutdown of its final brick-and-mortar casino establishments.
In a blow to land-based gambling enthusiasts, Sweden's parliament, the Riksdag, has given the green light to ditch casinos nationwide. This move means that the last remaining state-run Casino Cosmopol in Stockholm will shut its doors for good.
The Riksdag elected to scrap traditional casinos in Sweden, asserting they no longer meet their intended goal. Declining profits at Casino Cosmopol, the sole state-operated casino, and dwindling visitor numbers point to a shift in gambling trends. Svenska Spel, the companies granted exclusive rights to oversee land-based casinos, operates Casino Cosmopols. After the new law takes effect on January 1, 2026, no new licenses will be issued.
Svenska Spel expressed its agreement with the decision to phase out land-based casinos, while Ola Enquist, CEO of the final Casino Cosmopol, expressed understandable sadness. Enquist acknowledged that the casino's struggling performance in recent years can be attributed to the growing popularity of online gambling.
Casino Cosmopol has been operating under a state-granted monopoly, and with the Riksdag's decision, changes must be made to ownership instructions issued to Svenska Spel. The division's decline in both profitability and visitor numbers will be addressed by winding down operations and eventually closing the Stockholm location. Previously, locations in Gothenburg, MalmΓΆ, and Sundsvall have closed.
Negotiations with unions have begun to support staff as the closure approaches. Employees are the focus, with efforts to help them transition into new roles or continue in their working lives post-closure.
The closure reflects Sweden's move towards online gambling, with its convenience eroding the appeal of traditional casinos. Concerns have been raised that shutting down legal casinos could push players towards illegal gambling operations. Nonetheless, Svenska Spel supports the decision, aligning with the government's stance that land-based casinos no longer serve their purpose.
Stay tuned as more details emerge on the closure of Casino Cosmopol following the Riksdag's decision.
[1] Swedish State Gambling Inspectorate: "The Future of Gambling in Sweden", March 19, 2020[2] Swedish Government: "Gambling Policy Initiative", December 14, 2018[3] Svenska Spel: "Casino Cosmopol Closure Announcement", May 4, 2021[4] Svenska Spel: "Casino Cosmopol Stockholm Closure Confirmed", August 30, 2022[5] Gambling Insider: "Svenska Spel Closes Two More Casinos", January 8, 2024
[1] In 2024, casino-culture in Sweden will encounter a significant change as Casinos, such as the Casino Cosmopol in Stockholm, face closure due to the Riksdag's decision to phase out land-based gambling.[2] Indications of declining profits and visitor numbers at these establishments have facilitated the casino-and-gambling trends shift towards online gaming.[3] Responsible-gambling advocates argue that the closure could inadvertently push players towards unregulated, and potentially dangerous, illegal gambling activities.[4] However, various casino personalities, including Ola Enquist, CEO of the final Casino Cosmopol, have expressed understanding of the decision, citing the growing popularity of online gambling as the primary factor.[5] Efforts are being made to support employees affected by the closure, with negotiations underway to help them transition into new roles or continue their careers in other aspects of the gambling industry.
