Sweden Shuts Down Final Casino Establishment
Drawing the Curtains on Casino Cosmopol: Sweden's Last Standing Casino Bows Out
Today, Stockholm bids farewell to the dazzling allure of Casino Cosmopol, marking the terminal chapter of Sweden's gambling history. The parliamentary decree, signed on April 2, 2025, set the stage for this finale, ordering Svenska Spel to halt operations.
Swift Closure Call
Despite the official deadline granting a reprieve until December 2025, management opted for an earlier exit. "We've made the tough decision to pull the plug now, as the casino's earnings have drooped dismally for some time," said Ola Enquist, CEO of Casino Cosmopol.
The parliament's decree pinned the closure on the casino's insufficient profitability. Given its state-owned status and Svenska Spel, the sole authorized operator, maintaining control, continued operation was perceived as impracticable.
Enquist gathered the entire team on this fateful morning to break the news. "The ball's in the air now, and there won't be a catch for the casino. We're focusing all our energies on supporting our staff, helping them navigate their career progressions. We've started dialogues with the union to ensure the closure process is fair and transparent, mirroring the efforts made during the closures in Malmö and Gothenburg," Enquist declared.
A Historic Era Drifting Away
"Although we stand by the parliament's decision, the closure hits hard. With the Stockholm casino stepping out, an entire era fades away," admitted Enquist. Showing gratitude, he expressed appreciation to the gamblers and employees who shared their experiences in Stockholm over the years.
Forward with Svenska Spel
The shutdown happened a day after Svenska Spel released its Q1 2025 financial results, missing expectations. In the initial quarter of 2025, Svenska Spel's net gaming revenue plummeted by 4.1%, to SEK 1.876 billion compared to SEK 1.956 billion in the same period last year. The decline is attributed to Casino Cosmopol's single-venue operation, contrasting a multi-venue setup in the previous year's first quarter. Now that the nation's last casino has upped itsAnna Johnson, President and CEO of Svenska Spel, addressed the predicament, "The gaming landscape is swiftly moving online, and Svenska Spel is proactively positioning itself to capitalize on this digital revolution. We're pouring resources into polishing our digital platforms, aiming to create a thrilling, modern, and secure online gambling experience."
The closure serves as a stepping stone for Svenska Spel to diversify its business portfolio, moving away from land-based casinos and gravitating towards profit-driven online gaming ventures.
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- After the culmination of Sweden's last standing casino, Casino Cosmopol, Ola Enquist, the CEO, revealed at the closure announcement that the company would rather focus on supporting its staff and aiding them in their career transitions, referring to the union discussions and previous closures in Malmö and Gothenburg.
- The parliamentary decree in 2025, which ordered Svenska Spel to halt operations at the Casino Cosmopol, was pivotal to the closure, due to the casino's insufficient profitability and perceived unfeasibility of continued operation, given the state-owned status and Svenska Spel's monopoly.
- The official deadline for Casino Cosmopol's closure was in December 2025, but management opted for an earlier exit, citing the casino's disappointing earnings and the need for a swift end, as declared by Enquist.
- Svenska Spel aimed to offset the loss of their land-based casino operations following the Casino Cosmopol closure by funneling resources into their digital platforms, seeking to create an exciting, modern, and secure online gambling experience, as pointed out by Anna Johnson, President and CEO of Svenska Spel.
