Svenska Spel has formally closed its final land-based on line casino, Casino Cosmopol in Stockholm, after up to date possession directives had been issued following the Swedish Parliament’s resolution to part out land-based on line casino gaming. The closure was confirmed on 25 April, shortly after the corporate obtained new directions from the federal government the day gone by.
Casino Cosmopol’s closure marks the top of an period for Svenska Spel, which had operated the venue underneath a state-sanctioned monopoly. Although the brand new legislation doesn’t require the complete cessation of bodily on line casino operations till 1 January 2026, Svenska Spel opted to close down the Stockholm location forward of schedule.
Casino Cosmopol Closes After Two Decades of Operations
The resolution to finish land-based on line casino playing in Sweden, supported by Svenska Spel itself, was taken by Parliament earlier in April. A proposal to discontinue Casino Cosmopol’s operations was first raised as early as May final yr. With profitability and foot site visitors in regular decline for years — largely as a result of rise of on-line gaming alternate options — Svenska Spel had already shuttered its venues in Sundsvall (2020), Gothenburg, and Malmö (each closed in February 2024).
Approximately 240 workers had been impacted by the closure of the Stockholm web site. In line with its earlier actions following the shutdowns in Malmö and Gothenburg, Svenska Spel has initiated discussions with commerce unions and plans to carry a profession truthful for affected workers in Stockholm, inviting a number of corporations to help with profession transitions.
Casino Cosmopol CEO Ola Enquist mirrored on the event, stating: “It has been known for some time that the ownership instruction would be changed. Our focus is now on our employees to help them take the next step in their professional lives. We have initiated a union dialogue about the closure so that it will be as good as possible for everyone. Just as we did with the closures in Malmö and Gothenburg, we will organise a career fair for our employees in Stockholm with several invited companies.”
Business Impact and Future Plans for Svenska Spel
Despite the emotional weight of the choice, Svenska Spel executives acknowledged that closing the loss-making venue was the suitable transfer from a monetary standpoint. Enquist described the closure as “emotionally tough” however emphasised it made “business sense” given the long-standing operational losses. “As an employer, we will do everything we can to support our fantastic employees,” he stated.
Anna Johnson, President and CEO of Svenska Spel, echoed these sentiments, highlighting the importance of Casino Cosmopol’s contribution over the previous twenty years. “For over 20 years, Casino Cosmopol has offered an international casino experience to guests from all over the world,” Johnson said. She added that whereas the closure was unlucky for employees, it might allow Svenska Spel to focus on increasing different elements of its enterprise.
Svenska Spel has additionally confirmed that it owns the historic constructing at Kungsgatan 65, the place the Stockholm on line casino operated. The firm has already begun the method of promoting the property, though no timeline for the sale has been disclosed.
Financial Results Reflect Changing Priorities
Coinciding with the closure announcement, Svenska Spel launched its monetary outcomes for the primary quarter of 2025. The figures confirmed a 4.1% lower in internet gaming income year-on-year, totaling SEK1.88 billion. This decline was attributed partly to falling demand for land-based playing companies.
Revenue from the Tur lottery division dipped by 1.1%, whereas earnings from Vegas gaming machines fell sharply by 25.7%. Meanwhile, Casino Cosmopol’s income plummeted by 61.8% in comparison with the earlier yr. However, Svenska Spel’s backside line benefited from price financial savings associated to earlier on line casino closures, leading to a internet revenue surge of 73.1% to SEK509 million.
The firm’s management is now turning its consideration to future development areas, aiming to construct on the momentum generated by operational shifts away from land-based gaming.
Sources:
Svenska Spel stänger Casino Cosmopol i Stockholm, Svenska Spel, April 25, 2025.
