Total gambling revenue in the 12 months to 31 December 2024 hit SEK27.85 billion (£2.07 billion/€2.49 billion/$2.62 billion). This surpasses the SEK27.13 billion reported in Sweden in the previous year.

Figures published by regulator Spelinspektionen yesterday (20 February) highlight igaming as the stand-out market in Sweden. During the 12-month period, online gambling generated SEK17.84 billion in total revenue, an increase of 5.0% from the 2023 total.

Annual revenue from state lottery and slots also increased 2.2% year-on-year to SEK5.72 billion. On top of this, non-profit games and national lotteries revenue climbed 2.6% to SEK3.70 billion.

Casino Cosmopol closures impact clear to see in Sweden

In other parts of the market, the news was somewhat mixed. Land-based commercial gaming, such as restaurant casinos, saw revenue increase by 4.0% to SEK237 million.

However, revenue from community games and hall bingo dropped 3.5% to SEK196 million for the year.

Finally, the closure of several Casino Cosmopol land-based locations in early 2024 pushed revenue in the sector down 66.3% to SEK160 million.

Sweden Q4 gambling revenue jumps 7.6%

The final quarter of the year was the period that generated the highest takings. In total, Q4 revenue hit SEK7.61 billion, up 7.6% from the previous year and 14.3% more than Q3’s total.

Again, online gambling drew the most revenue at SEK4.63 billion, an increase of 6.2% against the previous year. This figure also surpasses all other quarters during 2024.

State lottery and slots emerged as the fastest-growing sector, with revenue rising by 18.5% to SEK1.71 billion. Non-profit games and national lotteries revenue also climbed 5.2% to SEK1.13 billion.

Revenue from land-based commercial gaming was 8.6% higher year-on-year at SEK64 million in Q4. Meanwhile, community games and hall bingo revenue remained level at SEK50 million in Q4.

Could Casino Cosmopol close for good?

There were far less positive results from Casino Cosmopol, which reported a 66.3% revenue drop to SEK31 million on the back of the double location closure.

Incidentally, Sweden’s government put forward a proposal in May to discontinue the Casino Cosmopol business. If approved, this would mean the final casino in Stockholm would need to close by 1 January 2026.

However, the proposal has been met with some criticism from Spelinspektionen, who argue that the move could fuel illegal land-based gambling.