Sweden’s Land-Based Casino Era Nears Its End as Riksdag Votes for Closure
Although the decision had been anticipated, the ruling seals the fate of Casino Cosmopol in Stockholm – the last remaining venue of the four previously state-operated casinos managed by gaming regulator Svenska Spel.
The golden age of land-based casinos in Sweden is drawing to a close, following a vote by the Riksdag to abolish casino gambling under the state’s exclusive licence model. This move will effectively outlaw all physical casino operations by 2026.
Although the decision had been anticipated, the ruling seals the fate of Casino Cosmopol in Stockholm – the last remaining venue of the four previously state-operated casinos managed by gaming regulator Svenska Spel.
The closure of the Stockholm casino mirrors the shutdown of venues in Sundsvall, Gothenburg, and Malmö, which had already ceased operations. Just under 240 employees remain at the final casino in the capital.
Svenska Spel, which once held a monopoly on Sweden’s land-based casino sector, has cautiously backed the government’s decision. Ola Enquist, CEO of Casino Cosmopol, stated:
“We share the Government’s assessment and have been prepared for the Riksdag’s decision.”
The government’s move comes amid declining visitor numbers and reduced profitability. In 2024, Casino Cosmopol recorded SEK165 million (£12.4 million) in revenue – a drop of 65% compared to the previous year.
In stark contrast, Svenska Spel’s lottery division, Tur, generated more than SEK5.14 billion (£386 million) in the same period. This contrast underscores a significant shift in consumer behaviour, with a growing preference for iGaming likely to accelerate the transition to digital gambling channels.
Concerns Rise Over Illegal Gambling
Despite the casino in Stockholm remaining open “until further notice,” discussions surrounding its liquidation are already underway.
Reflecting on the decision, Enquist added:
“Nevertheless, it is, of course, emotionally tough because it means that an era will end when the casino in Stockholm eventually closes.”
While the government is adapting to changing gambling preferences among Swedish citizens, the decision has drawn criticism from Sweden’s gambling authority, Spelinspektionen. The regulator has expressed concerns that closing Casino Cosmopol could trigger a rise in illegal gambling. However, Spelinspektionen has yet to issue an official response to the Riksdag’s ruling.
Additionally, the Swedish Police Authority has voiced apprehension, suggesting that extra funding may be required to monitor and combat unlicensed gambling activity.
