Operator News

Casino Cosmopol to close by start of next year as land-based ‘no longer serves a purpose’

It’s the end of the road for Casino Cosmopol and land-based casinos in Sweden with the Swedish parliament Riksdag deciding on a change in law that means that land-based casinos will be closed down as they no ‘longer serve their purpose.’

Casino Cosmopol in Stockholm will remain open until the change in law comes into force on January 1, 2026.

Ola Enquist, CEO of Casino Cosmopol, said; “We share the government’s assessment and have been prepared for the Riksdag’s decision. Nevertheless, it is of course emotionally tough because it means that an era will end when the casino in Stockholm eventually closes. Our focus right now is to support our employees, and at the same time stay open and continue to take care of our guests.”

Casino Cosmopol’s operations are conducted as a monopoly operation and are governed by the ownership instructions that Svenska Spel has from the owner, the Swedish state. Following today’s parliamentary decision, the next step is a changed ownership instruction to close and liquidate the casino in Stockholm before the law comes into force at the turn of the year.

Ms Enquist added: “The issue of ownership instruction is on the agenda for Svenska Spel’s annual general meeting on April 24. After that, we hope to be able to provide more detailed information about when we can close the casino in Stockholm.”

Casino Cosmopol has had declining profitability and visitor numbers for several years, as more and more people choose to play online, not least at online casinos. To limit losses, Svenska Spel closed the casino in Sundsvall in 2020, and in February 2024 the casinos in Gothenburg and Malmö were also closed. Of the four original casinos, only Casino Cosmopol in Stockholm remains, with just under 240 employees.

Ms Enquist added: “We have initiated union negotiations and are holding a dialogue on how a liquidation should be carried out so that it is as good as possible. We are also keen to help our employees continue in their working lives after closure.”

Svenska Spel owns the unique and K-labeled property at Kungsgatan 65 in Stockholm. The sales process for the property will begin shortly.