Sweden’s Svenska Spel closes casinos over COVID-19 concerns

Sweden’s state-run gambling operator Svenska Spel has shut down its four land-based casinos in response to new government limits on public gatherings.

On Friday, Svenska Spel announced that its Casino Cosmopol subsidiary would “temporarily close” its venues in Stockholm, Gothenburg, Malmö and Sundsvall after the government ordered a ban on gatherings of more than 50 people to minimize further spread of the COVID-19 coronavirus.

Svenska Spel CEO Patrik Hofbauer said his company had kept its casinos open “as part of our responsibility to keep the community going.” The casinos had observed the government’s previous order to limit public gatherings to 500 people but the new 50-person limit made the shutdown “necessary.”

Casino Cosmopol was already struggling, having reported a 10% decline in its Q4 2019 revenue to SEK443m (US$44m), representing roughly one-sixth of Svenska Spel’s overall revenue. Like all operators, Svenska Spel’s sports betting unit is currently suffering from a dearth of events on which to offer wagers due to the mass cancellation of live sports.