Sweden Votes to End Land-Based Casinos by 2026, Marking the End of an Era

The golden age of land-based casinos in Sweden is officially coming to an end. In a historic move, the Swedish Parliament has voted to end the country’s exclusive licensing model for physical casinos and ban gambling in face-to-face casinos as of January 1, 2026.

The decision marks the final chapter for Casino Cosmopol in Stockholm. The venue is the last remaining state-owned casino under the management of Svenska Spel. Once part of a quartet of casinos in Sundsvall, Gothenburg, Malmö and the capital, only Stockholm has opened its doors in recent years. The Riksdag’s decision will soon change that too.

An Orderly Exit for Svenska Spel

Svenska Spel, which has long held a monopoly on the Swedish market for land-based casinos, was reluctant to support the decision. Ola Enquist, CEO of Casino Cosmopol, confirmed the government’s decision. Enquist said: “We share the Government’s assessment and have been prepared for the Riksdag’s decision.”

Although the announcement came as little surprise, Enquist could not overlook the emotional impact of the closure.

“It is, of course, emotionally tough because it means that an era will end when the casino in Stockholm eventually closes,” he added.

Casino Cosmopol’s financial problems have been increasing for years. in 2024, revenue fell to SEK 165 million ($16.3 million) — a staggering 65% drop from the previous year. This is in stark contrast to the lottery arm of Svenska Spel, Tur, which took in over SEK 5.14 billion ($510 million) in the same period, reflecting a clear shift in consumer preferences towards iGaming.

Rise of Online Gambling — and Regulatory Concerns

With physical casinos soon to be a thing of the past, Sweden’s gambling landscape is in for a digital transformation. The closure of Casino Cosmopol is expected to accelerate the transition to online gambling and live dealer casino experiences.

However, this transition is not without controversy. The Swedish gambling regulator, Spelinspektionen, has expressed concerns that the abolition of legal land-based casinos could lead to an increase in illegal gambling activity. The regulator has not yet issued an official statement, but discussions are underway on how to improve enforcement and supervision.

The Swedish Police Authority has also expressed concern and called for additional resources to monitor and control unlicensed gambling operations, which could fill the void left by Casino Cosmopol.

A Final Blow to Land-Based Licensing

From 2026, Sweden will not issue new licenses for land-based casinos. This ban is part of a broader legislative package that also includes an upcoming update to Sweden’s law on penalties for money laundering offenses. The new law, due to come into force on July 1, 2025, will improve the Swedish Gambling Authority’s access to gambling data for both customers and businesses and strengthen the authority’s oversight in the digital age.

A Cultural Change for Swedish Gamblers

The closure of Casino Cosmopol is more than a business decision — it marks the end of a cultural institution. With just under 240 employees at the Stockholm venue, the human impact of the closure is major.

For now, the casino will remain open “until further notice”,” offering a bittersweet final piece to those who still cherish the traditional casino experience. But as Sweden prepares for a new era of gambling, the legacy of Casino Cosmopol will soon be in the history books — and perhaps on the live stream tables of online platforms.