Today marks the final curtain call for Sweden's last casino. The gambling establishment shuts down its operations following a nationwide decision to ban casinos.
Headline: Say So Long to Sweden's Last Casino: Casino Cosmopol in Stockholm Shuts Its Doors
Subhead: A Decision by the Riksdag and the End of an Era for Svenska Spel
Arrivederci, amici casino enthusiasts! The last casino in Sweden, Casino Cosmopol in Stockholm, has officially called it quits. The Riksdag made the call back on April 2, 2025, ordering Svenska Spel, the state-owned gaming behemoth, to close shop by December 2025. But, they bound and gagged this baby early.
Early Bird Special
They say good things come to those who wait, but they never said they come to those who wait almost a year. Ola Enquist, CEO of Casino Cosmopol, couldn't agree more, stating, "From a business perspective, it's the right decision to close immediately as the casino has been operating in the red for quite some time."
The casino's dwindling profits were the straw that broke the camel's back for the powers that be. As the casino was government owned and managed by Svenska Spel - the sole purveyor of casinos in the land of the Swedish meatball - it only made sense to cut the cord.
Emotional Goodbye
"It's bittersweet. This closure marks the end of an era," expressed Enquist, his voice heavy with emotion. "I'd like to take this moment to thank all our customers and teams who've been part of this journey through the years."
Unemployment Games
Approximately 240 people are out of a gig as a result of this decision. But, fear not, formerly card-carrying dealers, deal etc. Enquist has a plan: "We've been in talks with the unions to make sure this process is as smooth as possible for everyone involved. Like we did during the closures in Malmo and Gothenburg, we'll host a job fair for our employees here in Stockholm, with some top companies on the guest list."
Online Ain't Got a Poker Face
So put on your slope eyes and grab your chips, fellow gamers. Just because you can't navigate the Oracle of Delphi's casino doesn't mean the fun stops! With online casinos on the rise and Svenska Spel riding that wave, you can get your fix without ever leaving your La-Z-Boy.
Anna Johnson, President and CEO of Svenska Spel, chimed in, "For over 20 years, Casino Cosmopol has provided an international experience for visitors from all corners of the globe. It's a bummer for our employees to see their casino shut its doors, but it opens the door for us to focus on our digital ventures."
Time to Get Digital
The casino's cessation comes on the heels of Svenska Spel's first quarter results. They didn't quite hit the jackpot, coming up short of expectations. In this period, they recorded a 4.1% decline in net gaming revenue, clocking in at SEK 1.876 billion compared to SEK 1.956 billion in Q1 of 2024. They attribute most of this decline to the single casino that remained open during the quarter, as opposed to the three casinos that were operational for part of last year[2].
The closure of the final casino in the country means Svenska Spel will have to double down on their game to recover. They've got their paws in online gambling, so we'll see how they play their cards as they navigate this new landscape.
Sources:
[1] enrichment data on the closure of other Casino Cosmopol locations and Svenska Spel's strategic shift[2] enrichment data on Svenska Spel's first quarter results
"The house always wins, so let's test that theory on the cyber frontier!"
The closure of Casino Cosmopol in Stockholm, the last casino in Sweden, has resulted in a loss of employment for about 240 people. Ola Enquist, the CEO of Casino Cosmopol, has assured the unions of hosting a job fair for their employees.
The Riksdag's decision to close Casino Cosmopol was due to its consistent financial struggles, a burden that the state-owned gaming company, Svenska Spel, found difficult to bear.
In a bittersweet moment, Ola Enquist expressed his gratitude to the customers and teams who had been part of the casino's journey. He mentioned that the closure signifies the end of an era.
With the closure of all land-based casinos in Sweden, Svenska Spel is expected to focus more on their online ventures, capitalizing on the growing trend of online casinos.
