Sweden –State-owned gambling company Svenska Spel announced that it will permanently close its land-based Casino Cosmopol venue in Sundsvall. The decision was based on the property’s decline in profits.
Casino Cosmopol Sundsvall opened in 2001, and it was described as the first international casino in Sweden. However, Svenska Spel has observed a decline in demand at the facility in the past few years.
Svenska Spell explained that the number of players visiting the casino has been constantly in decline over the last 10 years, which led to a negative impact on the financial performance of the property.
The operator added that the transition of players from land-based gambling to online also negatively affected the casino.
The closure comes into immediate effect, and the decision will affect all 68 staff members employed at the property.
However, the operator said it will invite former Sundsvall employees to apply for other jobs across its network.
“It is a sad message to have to give to our talented employees, but we must adapt to prevailing market conditions,” Patrik Hofbauer, Svenska Spel president and chief executive, said.
“With a constantly declining customer base, the casino in Sundsvall is no longer profitable and then it is unfortunately not commercially defensible to continue to run the business.”
The operator said that shutting down the Sundsvall site will not affect its properties in Malmö, Gothenburg, and Stockholmm, even though all of its locations are currently shut due to the novel coronavirus (Covid-19) pandemic.