Swedish Casino Shutdown: Svenska Spel bids farewell to its last land-based casino
Sweden shuts down final Casino Cosmopol branch operated by Svenska Spel
Saying goodbye to a piece of history, Svenska Spel, Sweden's State-owned gambling provider, has announced the closure of its final land-based casino in Stockholm. The curtain fell on 24th April, just a day after the Swedish Parliament decided to put an end to land-based gambling in the country, scheduled to take full effect on 1st January 2026.
The Casino Cosmopol venue, Stockholm's one remaining land-based casino, will not reopen after its final closing. Svenska Spel communicated this news following a change in ownership instruction received the day prior.
The fate of Casino Cosmopol is not a surprise, given the Swedish government's decision to abolish land-based casinos, a move backed by Svenska Spel itself. This decision came earlier this month, citing declining profitability and visitor numbers as online gambling soared.
The proposal to discontinue the Casino Cosmopol, which Svenska Spel operates under state instructions, was initially tabled last May.
Boom in Online Gambling and Svenska Spel's Response
The shutdown of land-based casinos has been a gradual process. Previously, the casinos in Gothenburg and Malmö closed their doors in February 2024. Now, Stockholm follows suit, albeit temporarily.
Despite the decline in land-based revenue, Svenska Spel experienced a surge in online growth. Q1 2025's revenue fell only 4% YoY to SEK 1.88bn (£145.2m) but online revenue rose a commendable 7%, now making up 62% of total revenue. This growth partially offset the impacts of the land-based closures and contributed to a 96% increase in operating profit to SEK 609m (£47.1m).
Transition and Future Outlook
In the face of this sea change, Svenska Spel's CEO Ola Enquist has acknowledged the parliamentary decision as a necessary step while expressing support for employees and guests during the transition period. Svenska Spel's CEO Anna Johnson has also emphasized the company's strategic shift towards online growth, sustainable gambling, and organizational restructuring to mitigate the losses from the shutdown of land-based operations.
As all land-based casinos prepare to close by 2026, Svenska Spel plans to focus on expanding its online presence and maintaining its Oddset sports betting brand, which continues to drive growth.
- Svenska Spel, Sweden's state-owned gambling provider, has announced the closure of its final land-based casino, Casino Cosmopol in Stockholm, following the Swedish Parliament's decision to end land-based gambling.
- The closure of land-based casinos has been a gradual process, with venues in Gothenburg and Malmö having already closed their doors in February 2024, and now Stockholm follows suit, temporarily.
- Despite the closure of its land-based casinos, Svenska Spel experienced a surge in online growth, with online revenue rising 7%, now making up 62% of its total revenue.
- In the future, Svenska Spel plans to focus on expanding its online presence and maintaining its Oddset sports betting brand, which continues to drive growth, as all land-based casinos prepare to close by 2026.
