Swedish Government Plans To Shut Down Casino Cosmopol

News

Swedish Government’s Plan to Shut Down Casino Cosmopol

Sweden has ordered the closure of the country's last land-based casino, signalling the end of an industry that once generated hundreds of millions of euros in annual revenue.

Svenska Spel, the state-owned company responsible for regulating gambling in Sweden, plans to close Stockholm's Cosmopol Casino in January 2026, 25 years after it opened.

Table of Contents

Svenska Spel recognises there is a problem
Space}New casinos offer quality gambling in Sweden
Space}Growth of online gambling in Sweden
Igaming injects economic energy into Sweden
Space}Reasons for the growth of online gambling in Sweden
Convenience
Abundant games
Bonuses and promotions
Summary

Cosmopol will be Svenska Spel's fourth casino. The company closed its first casino in Sundsvall in 2020. Earlier this year it closed its casinos in Göttirog and Malmö for good.

The company cited declining profits as the reason for Casino Cosmopol's closure. In the first quarter of 2024, casino revenues fell by 32%. This came after profits fell by 11% last year.

While Casino Cosmopol is in financial difficulties, online gambling in Sweden is booming. In 2019, the government introduced new legislation on online gambling to take advantage of the growing industry.

Svenska Spel admits struggles

Svenska Spel general manager Eric Wand said he agrees with the government's decision to close Casino Cosmopol.

The review of Casino Cosmopol was carried out in close dialogue with the owners. We share the view that it is more impossible to operate Cosmopoli Casino in the black.

Casino Cosmopol opened in 2001 to offer cutting-edge odds to Swedish gambling fans. For a while, the casino thrived and brought in billions of euros annually.

The casino's financial problems coincided with the growth of online gambling in 2010. The number of visitors dropped, and many people began to prefer casinos abroad.
The situation for Svenska Spell worsened after the government introduced new regulations on online gambling in 2019. Svenska was forced to close its first casino during the Covid-19 pandemic.
As financial difficulties continued, it was clear that the Swedish land-based casino model was reaching its final days.

If Casino Cosmopole is closed in 2026, more than 200 will lose his job. Ora Encwist, the general manager of the casino, says the company will support employees and guests until the end.

As an employer, I do everything I can to support employees. We continue working in a straightforward way and worry about guests. "

New casinos providing quality gaming in Sweden

In Sweden, new casinos are discovered every day, and some offer great campaigns. In Sweden, more than 100 online casinos are accepting players.

Unfortunately, the surge in the website has faced the work of choosing an advantageous casino. To solve this problem, it has been found that online casinos comparison portals provide valuable support in the evaluation and ranking method of online casinos.

Gambling match platforms evaluate the legal nature of the casino by checking the license and the details of the site. Check out the payment functions of each operator, games, software providers, and communication methods.

The best review site ranks casinos based on the quality of the services provided. What you have to do is choose a platform with the function you like. For example, you can choose a casino with a fast payout. You can also choose a bonus promotion.

Online gambling’s growth in Sweden

Online gambling is one of the fastest economic fields in Sweden. Statista predicts that the division will create $ 185 billion by 2024. It is thought that the industry will grow 5, 69 % in the next five years.

The steep growing online gambling is largely due to the closing of the country's Landbase Casino. Cosmopoli casinos had a serious blow to the reporters when Swenka Spell had a serious blow when online games began to develop in Sweden.

The migration from a physical casino gambling to an online gambling accelerated by reorganization of the 2019 gambling market and subsequent pandemic, when Cosmopolicadino was closed.

It is worth pointing out that the online casino has destroyed the gambling industry in all authorized online casinos. Online gambling is comfortable. All you need is a mobile phone and a payment app to top up your account.

The economic impact of iGaming in Sweden

Just because the lan d-based casino is closed does not reduce Sweden's gambling revenue. Last year, online gambling was the most profitable gambling industry in Japan:

Vertical gambling	Income	year
Internet gambling	+7, 2%	2023
Ground casino	-12%	2023
Tour by lot	+0, 6%	2023
Sports award	+4, 6%	2023
casino	-32%	¼ 2024

In 2019, a new gambling method was established in Sweden to suppress illegal gambling sites. Under the law, the government reconstructed taxes, player protection policies, and data privacy policies.

New measures were incredibly effective for the government. In 2023, Sweden raised 17 billion Sweden Crona (1. 5 billion euros) from a local online casino. This is 6 % less than 2022.

Earlier this year, the industry has recovered a little after Marmas and Gotilga's casinos closed. The industry can grow rapidly as Cosmopole's casinos are preparing for the final closure.

However, this growth may affect the government's decision that prohibits credit cards in the Igaming-Sector. Sweden also demanded that the casino provides a complex tool for fighting gambling.

These new measures may have a negative impact on online casinos. But on the other hand, it will be a safer online game for players.

Reasons online gambling is growing in Sweden

Online gambling swells Sweden and turns the stationary casino right and left. What are the characteristics of online casinos?

Convenience

The biggest reason that online casinos are chosen are convenient. You can play at home, holidays, or on a commuting bus.

There is no need to change your car or replenish fuel to access slots and card games. It would be enough to access the Internet. You can play slots using your iPhone, laptop, and iPad.

With 10 Swedish Crona's small budget, you can top your score and play your favorite slots with real money. You can always increase your budget. But to play an online casino in Sweden, you don't have to prepare a lot of money.

A wide variety of games

Some of the most popular online casinos are made by Swedish companies. Netent and Play'n Go are a good example. These companies are making slots inspired by Swedish celebrities, mythology, culture, and sports.

The best casino has games that anyone can enjoy. You can play slots inspired by Nordic gods, ancient Egypt, sports and celebrities. You can also play board games such as Blackjack, Poker, Baccarat, and Roulette.

Live casinos offer board games in live video format. You can see your rivals and talk to them, so the realism of what is happening is guaranteed.

Bonuses and promotions

Most online casinos in Sweden will receive a prize when registering your account. Some websites need to arrange a deposit before obtaining approval. There are also sites that provide frivets that do not require deposits.

Bonuses increase your account balance. Increase the way you can use up, more fun, reduce danger, and make the entire online gambling more enjoyable. Last but not least, prizes have circumstances. Read the situation before receiving promotion.

In conclusion

Sweden ordered Casino Cosmopol. This is a cover for national terrestrial casinos. The government believes that the rise in online progress has been unprofitable and has solved these casinos like Cosmopol.

Now, the future of Swedish gambling for the Internet. Sweden recognizes gambling in all forms, such as slots, sports, lottery, and bingo. Swedish players love making Internet fare, and this desire will be the fastest and will remain in the future.

Share this blog