Sweden's Land-Based Casinos Bid Adieu: The End of an Era
Sweden Proposes Closing All Ground Casinos by 2026
Sweden's last remaining land-based casino, Casino Cosmopoulos in Stockholm, is set to shut its doors by January 2026, marking the end of an era in the Swedish gambling landscape. This decision comes as a result of the Riksdag's approval of a law that will phase out all land-based casinos in the country [1].
Previously owned and operated by Svenska Spel, a state-owned company with the exclusive license for land-based gambling in Sweden, Casino Cosmopol operated four locations. However, closures in Sundsvall, Gothenburg, and Malmö have left only the Stockholm site still standing [2].
Lawmakers' decision to phase out land-based casinos was based on falling visitor numbers and poor profitability. With more players shifting their attention to online gambling, it was concluded that these traditional casinos no longer play a significant role in Sweden's gambling scene [1].
Svenska Spel has backed the decision and has been preparing for this transition. While the Stockholm casino remains open for now, the company is already initiating the process of liquidation [2].
Addressing the decision, Casino Cosmopol CEO Ola Enquist acknowledged the shift in gambling preferences among Swedes. He said, "We share the government's assessment and have been prepared for the Riksdag's decision... Nevertheless, it is emotionally tough because it means that an era will end when the casino in Stockholm eventually closes" [2]. Enquist emphasized that the focus has shifted to supporting employees and maintaining high-quality service for guests during these transitional times.
Roughly 240 employees work at the Stockholm location, and Svenska Spel has begun discussions with unions about the best approach to manage the closure. Enquist ensures that they are committed to helping employees find future employment opportunities [2].
While the Riksdag has approved the measure, there are concerns about potential growth in illegal gambling once legal land-based options disappear. The Swedish gambling regulator, Spelinspektionen, and the police authority have voiced their concerns and mentioned the need for increased resources to tackle any increase in unlicensed gambling activity [3].
With the closure of land-based casinos and no new licences to be issued, Sweden is gearing up for a shift towards online gaming. It remains to be seen how this transition will impact overall revenue distribution within the industry, but it's clear that the future of gambling in Sweden is heading online [1].
[1] Enrichment Data: Timeline for the Phase-Out of Land-Based Casinos in Sweden[2] Base Article: Sweden to close remaining land-based casinos by 2026[3] Enrichment Data: Potential Impact of Land-Based Casino Closures on Illegal Gambling in Sweden
- By January 2026, Casino Cosmopoulos in Stockholm, the last remaining land-based casino in Sweden, will shutter its doors, marking the end of an era for casino culture in the country.
- The decision to close all land-based casinos in Sweden was based on declining visitor numbers and poor profitability, as more players adopted online gambling trends.
- Svenska Spel, which has held the exclusive licence for land-based gambling in Sweden, is collaborating with unions to manage the closure of the Stockholm casino, ensuring that its approximately 240 employees will be supported during this transition.
- While the Riksdag has approved the measure to phase out land-based casinos, there are concerns about potential growth in illegal gambling activities once legal land-based options cease to exist.
- With the closure of land-based casinos and no new licences to be issued, Sweden is gradually transitioning towards a future dominated by online gambling, with uncertainties around the distribution of overall revenue within the transformed industry.
