Svenska Spel Seeks Buyer for Last State-Owned Casino
Svenska Spel is moving forward with the sale of its last state-owned casino, Casino Cosmopol, in a bid to unlock value and find a new purpose for the Stockholm property.
LISTEN TO THIS ARTICLE:Following a competitive procurement process, the operator has appointed Cushman & Wakefield and TM & Partners to advise on the sale of the casino. Cushman & Wakefield will lead strategic advisory, market analysis, marketing, and sales efforts, while TM & Partners will provide legal guidance for the transaction.
Palladium's magnificent premises connected to well-functioning office space will be given new life. Showroom, headquarters or entertainment venue in national or international ownership remains to be seen, but the location at the central station opens up many options.
According to Ola Enquist, CEO of Casino Cosmopol, partnering with Cushman & Wakefield and TM & Partners, "felt safe" because of their proven track record in managing large-scale sales.
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Land-Based Gaming Declines
When Casino Cosmopol finally closes, it will mark the end of an era for Sweden's state-run gaming industry.
The decision to close Casino Cosmopol was first revealed in May 2024, driven by declining numbers and shifting regulations. The closure was officially confirmed by the operator in its Q1 2025 earnings report.
The shutdown of Casino Cosmopol reflects the steady decline of land-based gaming globally. Since the pandemic, online gambling has surged while brick-and-mortar casinos continue to shutter.
For instance, in the UK, based on figures from the Local Data Company, there has been a 30% decline in the number of high street bookmakers since 2020.
The case is the same in Australia, where Star Entertainment Group is facing financial difficulties and may be forced to divest properties or shut down.
Casino Austria is also under pressure and has warned that up to five of its smaller venues may close due to a recent tax increase.
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