Sweden will soon have one less casino as state-owned gambling operator Svenska Spel AB has reportedly decided to pull the plug on the Casino Cosmopol-branded venue it runs in the northern city of Sundsvall.
According to a Friday report from Intergame, the facility opened as the Scandinavian nation’s first international casino in 2001 and was subsequently followed by similarly-branded properties for the larger cities of Gothenburg, Stockholm and Malmo. However, the source explained that the enterprise has purportedly been struggling for many years to be profitable due to a steadily declining player base.
Intergame reported that the Sundsvall branch of Casino Cosmopol has additionally been hurt by strict rules that govern how local land-based venues are marketed as the increased availability of online casino entertainment further ate into its pool of punters. Its closure purportedly moreover comes following a sustained period in which Svenska Spel AB and the venue’s workers made a concerted effort to reverse this waning trend.
Although all of Sweden’s casinos are currently temporarily shuttered due to the ongoing coronavirus pandemic, Patrik Hofbauer, President and Chief Executive Officer for Svenska Spel AB, reportedly detailed that the Casino Cosmopol property in Sundsvall is to be permanently closed as soon as possible for 68 redundancies.
Reportedly read a statement from Hofbauer…
“It is a sad message to have to give to our talented employees but we must adapt to prevailing market conditions. 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.”