In a move that may surprise the masses, Sweden’s Riksdag has officially voted to phase out all land-based casinos, effectively dismantling the Casino Cosmopol monopoly operated by Svenska Spel.
There is one final remaining location in Stockholm that will close no later than 1 January 2026, when the aformentioned legislation comes into effect.
The decision made to close land-based casinos comes after a number of years of declining profitability, shrinking visitor numbers, and a significant shift in player behavior toward online gambling platforms.
The closure is also part of a bigger overall effort by the Swedish government to bring its gambling policy in line with the more modern environment and strengthen safeguards against money laundering.
End of the Casino Cosmopol era
Once boasting four locations across the country, Casino Cosmopol now operates only in Stockholm, employing just under 240 people.
Its counterparts in Sundsvall, Gothenburg, and Malmö were shuttered over the past few years due to that poor financial performance we previously mentioned.
“While emotionally difficult, we support the government’s decision,” said Ola Enquist, CEO of Casino Cosmopol. “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.”
Casino Cosmopol Stockholm will continue operations until the closure law comes into force or until ownership instructions from the government dictate otherwise.
Sweden’s legal and regulatory shifts
With the new law coming into effect, there is one concrete rule — no operator will be able to apply for a licence to run land-based casinos.
Alongside this reform, the Swedish Gambling Authority will be granted expanded access to customer and operator data to aid in the supervision of anti-money laundering efforts.
Changes to the Gambling Act will take effect on 1 January 2026, while amendments to anti-money laundering laws will be enforced much earlier, starting 1 July 2025.
Warning from the regulator
While the move is being backed from a political angle, it hasn’t been without controversy.
Spelinspektionen specifically, Sweden’s gambling regulator, previously warned that banning land-based casinos could fuel a rise in illegal gambling.
It emphasized the need for additional resources to monitor and combat unlicensed operators who may seek to fill the void but so far, the regulator has not responded to the Riksdag’s final decision.
Online gambling is king
As previously stated, Casino Cosmopol has faced stark declines in revenue, generating just SEK165 million in revenue during 2024 — a 65% decline year-on-year following the closure of two of its casinos.
In comparison, Svenska Spel’s Tur lottery division brought in SEK5.14 billion, further highlighting the large shift toward online and instant-play gambling.
Sweden joins a growing number of countries where traditional casino gambling is giving way to digital platforms, with player safety, transparency, and technological efficiency now at the core of national gaming strategies.
For Sweden, the dice has now rolled for the last time in a la
