State-owned Swedish operator Svenska Spel has announced the closure of its Casino Cosmopol venues in Gothenburg and Malmö.
Declining visitor numbers and a drop in profitability have led to a decision that will affect around 200 staff in total. Having endured losses of around SEK52m (€5m) in the trading year-to-date, CEO Ola Enquist announced what was described as “an emotionally tough step to take,” adding “We have taken a number of measures in an effort to increase revenue and reduce costs. Despite hard work, we see that the measures are not sufficient. Therefore, we now intend to wind down two of our casinos.”
The Casino Cosmopol in Stockholm will soon be the only land-based casino in Sweden, with Svenska Spel switching its primary focus going forwards to the rapidly expanding iGaming, iLottery and online betting sectors.