Sweden’s parliament, the Riksdag, has made a major choice to finish land-based on line casino playing within the nation, with the closure of the remaining On line casino Cosmopol location in Stockholm slated for January 2026. This transfer follows rising considerations concerning the profitability and relevance of bodily casinos within the face of rising on-line playing traits. Svenska Spel, the state-owned operator, at the moment runs the On line casino Cosmopol model and has been given the mandate to liquidate its final remaining venue in Stockholm as a part of this sweeping change.
A declining business:
The choice, confirmed by the Riksdag on April 2, 2025, comes after years of declining income for Svenska Spel’s land-based on line casino operations. In recent times, On line casino Cosmopol has struggled to draw guests, and the business’s general profitability has been in decline. Because of this, the Swedish authorities concluded that bodily casinos now not serve a major objective within the nation’s playing panorama. Regardless of working as a state-run monopoly, Svenska Spel will now shut down its closing on line casino location and stop any additional operations on this sector.
This closure marks the ultimate chapter for On line casino Cosmopol, which as soon as had 4 places throughout Sweden, together with Gothenburg, Malmö, Sundsvall, and Stockholm. The closures in Gothenburg and Malmö in early 2024 have been a part of a broader downsizing technique, leaving solely the Stockholm venue. Based on the Riksdag’s press launch, the choice to totally shutter the Stockholm on line casino by January 2026 aligns with earlier plans, first proposed in Could 2024.
On line casino Cosmopol’s CEO, Ola Enquist, expressed understanding of the federal government’s stance however acknowledged the emotional affect of the on line casino’s impending closure. In an announcement, Enquist remarked, “We share the federal government’s evaluation and have been ready for the Riksdag’s choice. Nonetheless, it’s after all emotionally robust as a result of it implies that an period will finish when the on line casino in Stockholm ultimately closes.”
The on line casino’s actual property at Kungsgatan 65 in Stockholm will probably be offered, and no different operators will probably be allowed to take over the land-based gaming market in Sweden. It’s nonetheless unclear whether or not the On line casino Cosmopol model will live on in some capability within the on-line gaming sector.
Worker assist and future plans:
As the federal government’s choice begins to take impact, Svenska Spel is targeted on supporting its workers all through the transition. At present, the Stockholm on line casino employs almost 240 workers members. Efforts are already underway to help workers with discovering new employment alternatives. Enquist emphasised that union negotiations are in progress to make sure that the liquidation course of is as easy as potential. “We’re holding a dialogue on how a liquidation needs to be carried out in order that it’s nearly as good as potential,” Enquist said, noting the corporate’s dedication to serving to workers transfer ahead of their careers.
Regardless of the setbacks, Svenska Spel’s Tur lottery division stays a significant income driver for the corporate, drawing SEK5.14 billion in income in 2024. Nevertheless, On line casino Cosmopol’s efficiency dropped considerably, with its income plummeting by 65% in comparison with the earlier yr, reaching solely SEK165 million.
Issues over unlawful playing:
The Swedish playing regulator, Spelinspektionen, has expressed considerations concerning the potential rise in unlawful playing on account of closing down the nation’s remaining land-based casinos. In an announcement, the regulator highlighted the significance of guaranteeing that sufficient sources are allotted to monitor and forestall unlawful playing actions. There are fears that the closure of On line casino Cosmopol might drive extra gamers to unlicensed venues, which might require further oversight.
Each Spelinspektionen and the Swedish police have warned that the shift from land-based to on-line playing could result in an increase in unlawful playing actions, which might affect the general playing panorama in Sweden. The regulator has indicated that extra funding will probably be wanted to handle these challenges, although it has but to reply on to the announcement made on April 2.
Regardless of the closure of On line casino Cosmopol and the shifting panorama, Svenska Spel’s on-line playing sector is anticipated to proceed thriving. The shift represents a broader world development, the place land-based casinos are seeing lowering numbers of patrons, whereas on-line gaming stays a gorgeous various for each gamers and operators.
