Sweden is moving forward with a decision to phase out all land-based casinos in the country. The Riksdag, Sweden’s parliament, voted to approve a law that will bring an end to Casino Cosmopol’s operations by January 2026. Stockholm’s casino is the last one still open, and it will eventually shut down as part of this transition.
Casino Cosmopol is owned and operated by Svenska Spel, the state-owned company that holds the exclusive licence for land-based casino gambling in Sweden. The company once ran four casino locations, but closures in Sundsvall, Gothenburg, and Malmö have left only the Stockholm site still running.
Lawmakers pointed to falling visitor numbers and poor profitability as the main reasons behind the decision. They concluded that land-based casinos no longer play a meaningful role in Sweden’s gambling landscape, especially with more players moving online.
Svenska Spel backed the decision and said it had already been preparing for this possibility. While the Stockholm casino will stay open for now, the company will begin the process of liquidation.
Casino Cosmopol CEO Ola Enquist addressed the decision, acknowledging the shift in how Swedes now gamble.
“We share the government’s assessment and have been prepared for the Riksdag’s decision,” Enquist said. “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.”
Around 240 employees work at the Stockholm location, and Svenska Spel has started discussions with unions about how to manage the closure. The company says it will work to support staff during the transition and help them find future employment.
“We’ve initiated union negotiations and are holding a dialogue on how a liquidation should be carried out so that it is as good as possible,” Enquist said. “We are also keen to help our employees continue in their working lives after closure.”
Although the Riksdag approved the measure, the decision didn’t come without warnings. The Swedish gambling regulator Spelinspektionen, along with the police authority, expressed concerns about possible growth in illegal gambling once legal land-based options disappear.
Spelinspektionen didn’t oppose the closure itself but pointed out that more resources would be needed to tackle any increase in unlicensed gambling activity. The regulator also mentioned it may need to shift current resources to deal with those risks.
We recently reported on Sweden’s gambling industry 2024 revenue which grew by 2.65%, reaching SEK27.85 billion ($2.62 billion). Casino Cosmopol faced a sharp decline in revenue due to multiple location closures in early 2024. Its revenue dropped 66.3% to SEK160 million ($15.04 million) for the year.
The final shutdown will officially take effect on 1 January 2026. After that, Sweden will have no legal land-based casino options, and no other company will be allowed to apply for a new licence.
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