The Swedish Parliament has voted in favor of abolishing the country's physical casinos, a decision that will lead to the closure of the last state-owned casino in Stockholm—Casino Cosmopol.
The Swedish Parliament announced that the physical casinos in Sweden no longer serve their intended purpose. The parliament noted that the profitability and visitor numbers of Casino Cosmopol are declining.
Svenska Spel has monopolized the country's land-based casino gambling business. Under national guidance, the company operates the Casino Cosmopol brand casinos. Therefore, after the new law takes effect, no other operators will be allowed to obtain a license to operate their own casinos.
The proposal to close Casino Cosmopol was first put forward in May last year. According to preliminary plans, the Swedish Parliament has confirmed that the amendment will take effect on January 1, 2026. From that date, Sweden will no longer allow the establishment of physical casinos.
Svenska Spel Supports the Closure of Physical Casinos
In response to this statement, the Swedish gambling company expressed support for the decision to close physical casinos. The operator will now begin liquidating the last location of Casino Cosmopol and prepare for permanent closure.
However, the company confirmed that Casino Cosmopol in Stockholm will continue to operate "until further notice."
Commenting on this decision, Ola Enquist, CEO of Cosmopol Casino, expressed concern about the government's recent performance in the casino sector. Enquist stated that the rise of online gambling in Sweden has drawn more players away from physical casinos.
"We agree with the government's assessment and are prepared for the parliamentary decision," Enquist said. "Nevertheless, it is emotionally difficult to accept, as it means the end of an era when the Stockholm casino finally closes.
"Our current focus is on supporting our employees while continuing to operate and take care of our guests."
Liquidation Negotiations Are Underway
At one time, four branches of Casino Cosmopol were open, but the Sundsvall branch closed in 2020. The Swedish gambling company also announced the permanent closure of its casinos in Gothenburg and Malmö last January.
The Cosmopol Casino in Stockholm is the only remaining land-based casino in Sweden. It employs nearly 240 people. Negotiations on liquidation and how the operator will support employees moving forward have begun.
"We have initiated union negotiations and are discussing how to carry out the liquidation as smoothly as possible," Enquist said. "We are also keen to help our employees continue working after the closure."
In 2024, Casino Cosmopol's business revenue was SEK 165 million (GBP 12.9 million/EUR 15.4 million/USD 16.9 million). This is a 65% decrease from the previous year, mainly due to the earlier closure of two casinos. In contrast, its Tur lottery division's total revenue was SEK 5.14 billion.
Regulatory Concerns About Casino Closures
Despite opposition from the market regulator Spelinspektionen, the government decided to close the casinos. Last August, the regulator claimed that this move could lead to an increase in illegal land-based gambling activities in the country.
Spelinspektionen stated that it had "no substantial comments" on the closure plan. However, it did express concerns about how this might affect the prevalence of illegal gambling. The national police authority also issued a similar response.
The regulator stated that more funds are needed to address the expected increase in illegal land-based gambling. It added that this might force it to reallocate some resources.
The regulatory body has not yet responded to yesterday's announcement.
