Regeringskansliet, the Swedish government, has presented a memorandum with proposals for a law change which would see the closure of the last state-owned casino Casino Cosmopol.
The amendment from the Ministry of Finance has been proposed due to Casino Cosmopol’s profitability difficulties and that liquidation is not expected to have any major impact on illegal gambling.
Casino Cosmopol operator Svenska Spel has stated that it shares the government’s assessment of land-based casinos and that it will do everything possible to support its around 200 employees at its last Casino Cosmopol location in Stockholm.
Erik Strand, President and CEO of Svenska Spel, stated: “The movement from gambling in land-based casinos to gambling online accelerated after the reregulation of the gambling market in 2019 and the subsequent pandemic when Casino Cosmopol remained closed.
“Our review of Casino Cosmopol has taken place in close dialogue with our owner. We share the assessment that it is no longer possible to run Casino Cosmopol profitably.”
Back in February, Svenska Spel closed its Casino Cosmopol venues in Gothenburg and Malmö due to declining profitability and visitor numbers as more people played online. Casino Cosmopol in Sundsvall closed in 2020, so only the Stockholm location remains.
If the proposed amendment to the law is passed and removes the requirement for land-based casinos from the Gaming Act, it will close the Casino Cosmopol Stockholm, affecting around 200 employees.
If passed, the amendment would come into force on January 1, 2026.
Ola Enquist, CEO of Casino Cosmopol, noted: “Although we share the government’s assessment, it is emotional to take part in the bill. If it is adopted, it means that our last casino is closing and that an era is over. This of course affects all of us who work at Casino Cosmopol.
“As an employer, we will do everything we can to support our employees. We will also stay open as usual and continue to take care of our guests.”
