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Read Full BioThe golden age of land-based casinos will draw to a close in Sweden after the Riksdag voted to discontinue casino gambling under the state’s exclusive license model. This effectively outlaws all in-person casino operations by 2026.
While the news was expected, the ruling sealed the fate of the Casino Cosmopol in Stockholm, the last of the four previously state-run casinos operated by the former state-run monopoly Svenska Spel.
The casino’s closure mirrors the nation’s other casinos in Sundsvall, Gothenburg, and Malmo, which have all already closed their doors, leaving just under 240 employees at the solitary remaining venue in Stockholm.
Svenska Spel, which historically held a monopoly on the Scandinavian country’s land-based casino gaming, has since expressed its reluctant support for the decision. Ola Enquist, CEO of Casino Cosmopol, declared: “We share the Government’s assessment and have been prepared for the Riksdag’s decision.”
The government’s foreclosure announcement was ultimately driven by declining visitor numbers and profitability after Casino Cosmopol generated SEK165 million ($16.3 million) in 2024, a 65% drop from the previous year.
In contrast to Sweden’s land-based casino’s problems, Svenska Spel’s Tur lottery arm secured more than SEK5.14 billion ($510 million) in the same year. In what marks an undeniable shift in consumer behavior towards a preference for iGaming, the closure of in-person casinos will inevitably fuel online growth as digital channel shift continues.
Concerns About Illegal Gambling Rise
Despite the Stockholm-based casino remaining open “until further notice,” liquidation talks are underway.
Reflecting upon the news, Enquist added, “Nevertheless, it is, of course, emotionally tough because it means that an era will end when the casino in Stockholm eventually closes.”
Although the government is having to react to the sizable shift in its citizen’s gambling habits, the decision has incited scrutiny from Sweden’s gambling regulator, Spelinspektionen, which fears the Casino Cosmopol’s closure will lead to a surge in illegal gambling. However, as things stand, the regulator has yet to respond to Riksdag’s decision in an official capacity.
The announcement also led the Swedish Police Authority to raise concerns by suggesting additional funding to monitor and control unauthorized gambling activity.
No New Land-Based Casino Licenses in Sweden
In effect, from 1 January 2026, there will no longer be physical casino premises in Sweden, and new operators will not be able to obtain a casino license.
Furthermore, the Riksdag tabled proposal also stated that the anticipated update of the country’s Act on Penalties for Money Laundering Offences on 1 July 2025 would give the Swedish Gambling Authority greater access to customer and business gambling data.
Ultimately, while the decision is unpopular amongst some casino-going Swedes, the closure of the Casino Cosmopol marks a cultural and economic turning point for Sweden’s gaming scene. For now, casino goers can still enjoy in-person table games and roulette, but eventually, they may have to migrate to live-dealer online casino venues to enjoy the pastimes of old.
