According to a recent announcement from the Riksdag, Sweden's parliament, the last land-based casino in the country is due to be closed down.

Citing low profitability and declining visitor numbers, the lawmakers moved to shutter Casino Cosmopol – the last, state-owned land-based casino in Sweden.

Although no exact timeline has been given for the casino's closing, this seems like the end of an era for casino fans in Sweden, further highlighting the country's fast move towards online gaming.

What is Casino Cosmopol?

Casino Cosmopol is the only legally working land-based casino operation in Sweden.

Currently, the state-owned lottery Svenska Spel holds a monopoly on land-based casinos in the country. Specifically, it runs a chain of casinos under the Casino Cosmopol brand under the instructions of the state. As a state-owned business, all of the profits of these casinos go to the Swedish national treasury.

The company was founded in 1999 and opened four venues in Sundsvall, Malmö, Gothenburg, and Stockholm. However, three of these venues have since been closed down, with the Malmo and Gothenburg locales shutting down as recently as 2024.

As such, the “chain” has long since become a single location in downtown Stockholm. It was the last refuge of the classic casino-goer in Sweden, but it seems even its visitation has ground to a halt in recent years.

Last year, Casino Cosmopol reported profits of SEK165 million, which is around $16.9 million. This represents a nearly 65% drop from the previous year, though much of that can be attributed to the closure of the remaining locations.

In contrast, the lottery branch of Svenska Spel reported more than SEK5.14 billion in profits, indicating the relative weakness of classic brick-and-mortar casinos in Sweden.

Svenska Spel Backs Casino Closing

Even though the online gambling industry is flourishing in Sweden, it seems that the closing down of brick-and-mortar gaming did not come as a surprise. The leadership of the last standing Casino Cosmopol even expressed support for the decision, citing disappointing performance.

The CEO Ola Enquist even expressed support for the decision, commenting on the situation:

“We share the government’s assessment and have been prepared for the Riksdag’s decision. Nevertheless, it is of course emotionally tough because it means that an era will end when the casino in Stockholm eventually closes. Our focus right now is to support our employees and at the same time stay open and continue to take care of our guests.”

Liquidation Reportedly Already Under Way

As a state-owned company, the future of Casino Cosmopol's assets and employees is a contentious subject.

Despite being the last-standing casino operation in the country, the Stockholm location employs over 240 people. Talks have already started over liquidation and how the operator will support staff moving forward.

According to Enquist, the company's management is in active talks with various union representatives and regulatory authorities. The goal is to ensure responsible use of any remaining assets while also providing the staff with career opportunities once the closure is complete.

What This Means for Swedish Casino Players

Players will mostly be affected the way you expect – no more gaming in brick-and-mortar venues. It seems like a shame, but it's also a direct result of the market's demands. It seems Swedes massively prefer Swedish online casinos to their traditional counterparts.

However, not everyone is in agreement over the upcoming closures. Last August, the country's regulator Spelinspektionen warned that the closures could lead to a rise in illegal gambling operations as players flock to find alternatives to the failing Casino Cosmopol. However, the regulatory authority is yet to respond to this latest announcement.

According to sources close to Svenska Spel, the liquidation process for the casino's last location is already underway. However, no exact timeline has been given for the fate of Casino Cosmopol and its 200+ employees, and the venue is expected to stay open “until further notice.”