Svenska Spel has partnered with Cushman & Wakefield and TM & Partners to advise on the sale of its Casino Cosmopol property in Stockholm, Sweden.
Procurement arrangements have been completed, with Cushman & Wakefield assigned as transaction consultant and TM & Partners as transaction lawyer.
Cushman & Wakefield will be responsible for strategic advice, market analysis, marketing of the property and implementing the sales process. Meanwhile, TM & Partners’ assignment includes legal transaction advice in connection with the sale of the site.
“Svenska Spel is carrying out the sale of the property to create value for the company and ensure that the unique building is put to use,” Casino Cosmopol CEO Ola Enquist said. “We are therefore pleased to begin the collaboration with Cushman & Wakefield and TM & Partners.”
Svenska Spel Bids Farewell to Casino Cosmopol
Svenska Spel announced in April it had closed the site, its final land-based casino in Sweden. The property shut its doors for the final time on April 24, with approximately 240 staff impacted.
Casino Cosmopol’s fate was all but sealed a few weeks prior when Sweden’s government voted to abolish land-based casinos in the country. Incidentally, the decision was backed by Svenska Spel.
The group said casino profitability and visitor numbers have been declining for several years. To limit these losses, Svenska Spel had already closed several other venues.
The first to close was the location in Sundsvall, which shut in 2020. Casinos in Gothenburg and Malmö also closed their doors in February last year.
Land-based casinos are set to be formally banned in Sweden from January 1, 2026.
