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Sweden to Permanently Close Land-Based Casinos
Sweden decides to permanently close its land-based casinos by 2026. The gambling industry criticizes the decision, blaming the lack of competition in the market.
Gustaf Hoffstedt, Secretary General of the Swedish Trade Association for Online Gambling (BOS), believes that land-based casinos wouldn’t be on the brink of closure if they didn’t operate under a governmental monopoly. He is sure that Casino Cosmopol’s lack of innovation was a consequence of its status under Svenska Spel.
Hoofstedt said to Global Gaming Business (GGB):
“Casino Cosmopol remained a monopoly to the end, which meant no competition or innovation. If there’s no competition, innovation dies.”
Sweden’s parliament, the Riksdag, stated on April 2 that land-based casinos “no longer serve their purpose.” The decision comes from assessing the declining profitability and traffic of Casino Cosmopol’s locations. The new regulation to close the land-based casinos will take effect on January 1, 2026.
Ola Enquist, CEO of Casino Cosmopol, acknowledges the financial difficulties of the market, pointing out the shift in player behavior. He also believes that the rise of iGaming has drawn away the players from traditional casinos.
Hoffstedt still argues that land-based casinos have a place in Sweden’s gambling sector, especially if private businesses were allowed to enter the space. He suggests that cities like Stockholm, Malmö, and Gothenburg would profit from land-based casinos if the sector were liberalized. He added that many online gambling companies, including Evolution, have business models that rely on partnerships with traditional casinos to boost their digital gambling experience.
The closure of traditional land-based casinos may have unintended consequences. Sweden has one of the highest shares of online gambling in Europe, with the European Betting and Gaming Association (EGBA) reporting 68% of GGR generated online. Only 32% comes from land-based gambling, which will disappear after 2026.
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