Svenska Spel Agrees to Sell Final Casino Cosmopol Property
Sweden’s Svenska Spel has reached an agreement to sell its remaining Casino Cosmopol property in Stockholm.
Alecta Fastigheter will purchase the Hasseln 1 at Kungsgatan 65 building. It plans to turn the property into a venue for “high-quality offices and event operations.”
The building previously housed one of Svenska Spel’s Casino Cosmopol land-based locations for over 20 years. However, it ceased operations in April as part of a wider shutdown of the brand.
Sweden’s government had voted to abolish all land-based casinos in the country, also in April. This was backed by Svenska Spel, which said casino profitability and visitor numbers have been declining for several years.
To limit these losses, Svenska Spel had already shut several other venues, including sites in Gothenburg and Malmö, which closed their doors in February 2024.
‘New Life’ for Casino Cosmopol Building
Anna Johnson, president and CEO of Svenska Spel, said the building will be given “new life” and used in a way that creates value for the city and its residents.
“We are pleased to have found a long-term and stable owner in Alecta Fastigheter,” she said. “The property has an obvious place in central Stockholm, and it is positive that it will now be given new life and will be used in a way that creates value for both the city and the residents.
“For us, the deal means that we are taking the final step in the winding down of our land-based casino operations and at the same time it provides a financial contribution to an already strong Svenska Spel Group.”
Prior to serving as a Casino Cosmopol location, the building was previously the Palladium cinema, which opened in 1918. Its other uses during its more-than 100-year history include as a nightclub and concert venue.
Cushman & Wakefield and TM & Partners advised Svenska Spel in the sales process.
