Sweden intends to shut down Casino Cosmopol operations
On May 7, the Swedish government announced that the casino industry “no longer serves its purpose“, highlighting ongoing challenges that prevent Casino Cosmopol from becoming profitable. This includes the shutdown of two locations by the end of 2023 and persistent regulatory problems.
The Swedish government has put forward a memorandum suggesting modifications to the legislation concerning brick-and-mortar casinos, with a focus on closing Casino Cosmopol. The rationale behind this move is the financial struggles of Casino Cosmopol and the limited impact its closure is anticipated to have on illicit gambling. The proposed law amendment is scheduled to come into force on January 1, 2026.
Svenska Spel, a government-owned company operating in Sweden’s regulated gambling market, concurs with the government’s assessment of unfavorable business conditions and limited prospects for profitability. The decline in profitability and footfall at Casino Cosmopol in recent years can be attributed to the increasing number of online casinos. In an effort to minimize losses, Svenska Spel shut down the Sundsvall casino in 2020, followed by closures in Gothenburg and Malmö in February 2024. Consequently, the Casino Cosmopol in Stockholm is the sole remaining establishment of the initial four casinos.
Svenska Spel reacts to the proposed shutdown of Casino Cosmopol Representatives from Svenska Spel have expressed agreement with the government’s decision. Historically, the company operated four casinos, starting with the first closure in 2020, followed by the locations in Gothenburg and Malmö last year.
