The Swedish government has decided to pull out of land-based casinos.

The Swedish government has decided to pull out of land-based casinos.

 The Swedish parliament, known as the Riksdag, has voted in favour of eliminating land-based casino gaming in the country. This decision is expected to result in the closing of the last state-owned Casino Cosmopol facility, which is located in Stockholm.
 Speech in Swedish  The Cosmopol Casino;
 According to the Riksdag, which made the announcement yesterday (April 2), land-based casinos in Sweden are no longer providing the desired results.  There was a decrease in both the number of visitors and the revenue of Casino Cosmopol, according to Parliament.

 A monopoly on gambling in land-based casinos is held by Svenska Spel, which is present throughout the country.  In accordance with the directives of the state, it manages the casinos that bear the Casino Cosmopol trademark.  As a consequence of this, when the new law is put into effect, each and every other operator will be prohibited from obtaining a licence to operate their own casinos.

 A proposition to stop operations at Casino Cosmopol was initially presented in May of last year.  In accordance with the preliminary preparations, the Riksdag has confirmed that the modification will go into force on January 1, 2026.  Starting from this date forward, Sweden will no longer allow casinos to be located on land.

 There is support from Svenska Spel for the shutdown of land-based casinos.
 In response to the statement, Svenska Spel stated that it is in agreement with the decision to stop operating land-based casinos.  Now is the time for the operator to start the process of liquidating the last Casino Cosmopol property and getting it ready to permanently close its doors.

 On the other hand, it did affirm that the Casino Cosmopol facility in Stockholm will continue to be operational "until further notice."

 The Chief Executive Officer of Casino Cosmopol, Ola Enquist, expressed the government's worries on the division's performance over the past few years in his comments regarding the decision.  According to Enquist, the proliferation of online gambling in Sweden has prevented a growing number of gamers from patronising traditional casinos.

 Enquist stated that they have been prepared for the decision that will be made by the Riksdag and that they share the government's opinion.  In spite of this, it is undoubtedly distressing on an emotional level because it signifies the conclusion of an era when the casino in Stockholm eventually shuts down.

 Our current priority is to provide assistance to our staff members while also maintaining our business operations and continuing to provide excellent service to our customers.

 Talks about liquidation have already begun.
 Sundsvall was one of the four Casino Cosmopol locations that were open at one point, however it closed in the year 2020.  Additionally, in January of the previous year, Svenska Spel made the announcement that it would be permanently closing its casinos in Gothenburg and Malmo.

 Casino Cosmopol, located in Stockholm, is the only land-based casino that is still operational in Sweden.  Nearly 240 individuals are employed by the company.  Liquidation and the manner in which the operator will provide support to staff moving forward have already been the subject of discussions.

 "We have begun negotiations with the union, and we are currently holding a dialogue on how a liquidation ought to be carried out in order to ensure that it is as successful as it can possibly be," Enquist said.  Additionally, we are eager to assist our personnel in continuing their working lives after the company has closed its doors.

 In the year 2024, the Casino Cosmopol enterprise brought in a total of SEK165 million, which is equivalent to £12.9 million, €15.4 million, or $16.9 million.  This was a 65 percent decrease from the previous year, mostly as a result of the two stores being shut down earlier in the year because of the closure.  The Tur lottery division, on the other hand, brought in a total revenue of 5.14 billion Swedish Krona.

 Regulators are concerned about the closing of casinos.
 In spite of resistance from the market regulator Spelinspektionen, the decision to proceed with the shutdown was made.  A statement made in August of last year suggested that this could result in an increase in illegal gaming within the land-based sector of the country.

 Spelinspektionen stated that it did not have any "substantive views" regarding the intentions for the shutdown.  On the other hand, it did express its concerns regarding the potential influence that this could have on the incidence of unlawful gambling.  The authority in charge of the country's police made a response that was comparable.

 Regarding this matter, the regulatory body stated that it will require additional funding in order to combat the anticipated increase in illicit gambling on land.  Additionally, it was stated that this could compel it to reallocate particular resources.

 The administrator has not yet provided a response to the news made yesterday.