In a landmark decision, Sweden’s Riksdag has voted to phase out all land-based casinos, marking the end of Casino Cosmopol’s monopoly operated by Svenska Spel. The final remaining casino in Stockholm will shut its doors by January 1, 2026, as part of sweeping reforms aimed at modernizing Sweden’s gambling policies and addressing concerns such as declining profitability and money laundering.
The End of the Casino Cosmopol Era
Casino Cosmopol once operated four locations across Sweden—in Sundsvall, Gothenburg, Malmö, and Stockholm. However, years of poor financial performance and shrinking visitor numbers led to the closure of the first three locations, leaving only the Stockholm casino operational. The site employs just under 240 staff members who will be affected by this decision.
Ola Enquist, CEO of Casino Cosmopol, expressed support for the government’s move despite its emotional impact. “We’ve been prepared for this outcome. Our focus now is on supporting our staff and continuing to provide a quality experience for our guests while we remain open,” Enquist stated.
Shifting Player Behavior Toward Online Gambling
The closure reflects a broader trend in Sweden’s gambling market, where online platforms have overtaken traditional casinos. In 2024, Casino Cosmopol generated just SEK165 million in revenue—a stark 65% year-on-year decline after two casino closures. Meanwhile, Svenska Spel’s Tur lottery division brought in SEK5.14 billion, underscoring the dominance of digital gambling.
Sweden joins a growing list of countries transitioning from land-based casinos to online platforms as player preferences shift toward convenience and instant-play options. Enhanced transparency and technological innovation are now central to national gaming strategies.
Regulatory Changes and Anti-Money Laundering Efforts
The new legislation prohibits operators from applying for licenses to run land-based casinos starting January 2026. Additionally, amendments to Sweden’s Gambling Act will grant the Swedish Gambling Authority expanded access to customer and operator data, strengthening anti-money laundering measures. These changes will begin earlier, with enforcement starting July 1, 2025.
Despite political backing for these reforms, Spelinspektionen—the Swedish gambling regulator—has warned that banning land-based casinos could lead to an increase in illegal gambling activities. The regulator has called for additional resources to monitor unlicensed operators but has yet to respond publicly to the Riksdag’s decision.
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