Starting October 1, land-based casinos in Sweden will only be open 4 days a week due to a decline in visitor numbers caused by online gambling competition. This decision was made by Svenska Spel, the company that owns Casino Cosmopol, and is due to reduced weekend attendance.
State-owned Svenska Spel has announced that the new casino schedule, which sees the casino open Wednesday through Saturday, is in response to a decrease in visitors on Sunday, Monday and Tuesday. The company’s spokeswoman, Lotta Ortnes, said the decision was based on an analysis of customer behavior.
In addition, casinos in Stockholm and Gothenburg will extend their opening hours on Friday and Saturday, now closing at 5:00 am. These changes are aimed at attracting more players and increasing revenue.
But online casinos will also get a pinch from Sweden’s Ministry of Finance. Due to the new tax measures, the Gross Gaming Revenue (GGR) tax will increase from 18% to 22%. However, the innovation will be effective only from July 2024.
The Swedish government believes that the introduction of this tax will help strengthen the public coffers without seriously harming operators in the gambling industry. These changes will be a significant step in regulating gambling in the country and will be watched by both supporters and critics of the initiative.