A Historic Move: Sweden to Shut Down Its Last Physical Casino
On April 2, 2025, Sweden’s parliament, the Riksdag, officially voted to abolish land-based casino gambling by eliminating the only license type that permits it. This means that as of January 1, 2026, no land-based casinos will operate legally in the country, including the last remaining venue – Casino Cosmopol in Stockholm.
This decision marks a strategic shift away from outdated formats toward digital solutions. In recent years, Sweden has seen a sharp decline in interest in physical casinos, with most players migrating to online platforms.
Why Is Casino Cosmopol Closing? Reasons and Consequences
Casino Cosmopol, operated under the state-owned Svenska Spel, has been losing profitability and visitors for several years. Since 2020, branches in Sundsvall, Gothenburg, and Malmö were sequentially closed. The only remaining venue – located at Kungsgatan 65 in Stockholm – opened in 2003 and is now set for permanent closure.
As Casino Cosmopol CEO Ola Enquist explained:
“We share the government’s position and were prepared for the Riksdag’s decision. Nonetheless, it’s emotionally difficult – the closure marks the end of an era.”
Enquist emphasized that the company’s top priority is now to support the remaining 240 employees as they transition to new career paths.
Legal Reform and Tighter AML Monitoring
Alongside the casino closure, Sweden is also amending its Money Laundering Act and Casino Gambling Act. The Swedish Gambling Authority (Spelinspektionen) will gain greater access to operator and customer data, enhancing its ability to detect and prevent financial crime in gambling activities.
These legislative changes come into force as follows:
- AML-related updates – July 1, 2025.
- Casino ban – January 1, 2026.
An End to Monopoly: A New Regulatory Era
Casinos in Sweden operated under a state-owned monopoly via Svenska Spel and were allowed to function only with a specific state-issued license. With the new law, no such licenses will be available, effectively ending the country’s brick-and-mortar casino era.
Svenska Spel’s annual general meeting on April 24, 2025, will address the necessary ownership changes. The process to sell the landmark property on Kungsgatan will also begin soon, as it’s a heritage-listed (“K-labeled”) building.
From Physical Venues to Online Platforms: Where Is the Market Going?
Interest in traditional casinos had started to fade even before Sweden legalized online gambling in 2019. The rise in participation on unregulated offshore sites pushed the government to bring gambling under control through formal regulation.
Today, the focus is fully digital:
- Online casinos are expanding rapidly.
- Monitoring and player protections are more effective with digital tools.
- Players now prefer personalized, mobile, and on-demand gaming experiences.
Conclusion: Digital Transformation and the End of an Era
The closure of Casino Cosmopol is not just the end of a 20-year experiment with land-based casinos, but also a deliberate and strategic step toward the future of gambling in Sweden. Online platforms now dominate, and the state is adapting to this reality through legislation, transparency, and support for its workforce.
Sweden is showing how to gracefully transition from outdated gambling models to efficient digital ecosystems, prioritizing control, innovation, and modern user preferences. The shutdown of land-based casinos is not a crisis, but rather part of a forward-thinking strategy that embraces what’s next.
Source: Sveriges Riksdag
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