The Swedish federal government has actually proposed the discontinuation of Svenska Spel’s land-based company, Gambling establishment CosmopolAccording to a memorandum released on May 7, the gambling establishment brand name is no longer efficient in satisfying its function.
The federal government mentioned Casino Cosmopol’s monetary difficulties as part of the factor for the proposition. Swedish legislators likewise kept in mind that the closure is not likely to impact the prohibited betting rates.
The battles of Casino Cosmopol were shown in Svenska Spel’s 2023 reportwhich revealed that the land-based brand name is dragging the business’s financials down.
If the proposition passes, Svenska Spel’s license will be changed to no longer permit it to run land-based gambling establishments. As an outcome, the business will be required to close its gambling establishment in Stockholm, the last Casino Cosmopol location still in service. The home’s closure would affect some 200 tasks.
For context, Svenska Spel closed its gambling establishment in Sundsvall in 2020 to cut losses. Previously this year, the business likewise closed its Casino Cosmopol residential or commercial properties in Gothenburg and Malmö.
If the procedure detailed in the memorandum is authorized, Casino Cosmopol will nearby January 1, 2026
Svenska Spel Agrees That Casino Cosmopol Isn’t Profitable
Svenska Spel discussed the matter, verifying that its land-based organization has actually been suboptimal. The business associated that to the pandemic which triggered many individuals to relocate to online video gaming.
Erik Strandpresident and CEO of Svenska Spel, stated that the business “shares the evaluation” that it is no longer possible to run Casino Cosmopol successfully.
Ola EnquistCasino Cosmopol’s CEO, included that regardless of sharing the federal government’s evaluation, his group still feels “psychological” about talks. If the federal government chooses to close Casino Cosmopol, this would mark the “end of an age,” Enquist kept in mind.
This naturally impacts everyone who operate at Casino Cosmopol. As a company, we will do whatever we can to support our workers.
Ola Enquist, CEO, Casino Cosmopol
Enquist included that Casino Cosmopol will stay open and continue to look after its visitors till the matter has actually been chosen.
In other news, Svenska Spel’s Sport & & Casino brand name was just recently knocked with a fine of $9.5 million for a number of failings associated with gamer responsibility of care.