Sweden also closes its last land-based casino. Romania has 3 – Play Responsibly

The Swedish government is also considering closing the last existing Cosmopol casino, the one in Stockholm, due to lack of profitability.

Romania has 3 land-based casinos (Marriott, Platinum and Casa Vernescu), and they are all in Bucharest.

Unlike the Nordics, where the state holds the monopoly, in Romania, casinos are exclusively private.

After the closure of Gothenburg and Malmö, the Swedish government presented a proposal to stop operations at Casino Cosmopol in Stockholm.

It is the last remaining land-based casino under the management of the state operator Svenska Spel.

The decision marks a change in the country’s gambling landscape as the government cites the casino’s inability to achieve profitability in the face of the growing popularity of online gambling.

In a memorandum filed on May 7, the Swedish government says the unit is “no longer fulfilling its purpose” and faces ongoing challenges in achieving profitability.

This rating is consistent with the recent financial performance of the Casino Cosmopol and Vegas segments within Svenska Spel’s operations.

A closer look at Svenska Spel’s financial results reveals the harsh reality facing Casino Cosmopol’s business.

In 2023, the Casino Cosmopol and Vegas subsidiaries saw a 12% decrease in revenue to SEK 942 million (€80.7 million).

Online games have taken over

This decline has been attributed to a decrease in casino visitors as more and more people have opted for the convenience and accessibility of online casino games.

This trend is also confirmed by data from Svenska Spel, which shows that while the Casino Cosmopol and Vegas segment saw an 11.4% decrease in revenue, the online sector saw a 7.2% increase in revenue in the same period.

If the closure proposal is approved, Casino Cosmopol Stockholm would have to close its operations by January 1, 2026. This decision would have a direct impact on approximately 200 jobs.

However, Svenska Spel is committed to supporting its employees during this transition as the Casino Cosmopol era comes to an end.

In addition to financial pressures, Casino Cosmopol has also faced regulatory hurdles in recent months. In December 2023, the casino was fined SEK 2 million for anti-money laundering failures following an investigation by the Swedish regulator Spelinspektionen.

In recent years, Svenska Spel has already closed its casino operations in Sundsvall and, more recently, those in Gothenburg and Malmö, citing limited profitability as the main factor in the decision.

The closure of Casino Cosmopol represents a significant change in the Swedish gambling landscape.

State operator Svenska Spel is thus refocusing its efforts on its other business segments, such as its Tour lottery division and its sports and online casino offerings, which are experiencing strong growth.