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Threat of Closure Looms Over Two of Sweden’s Land-Based Casinos

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A concerning development has emerged in Sweden’s gambling landscape, with two of the country’s three land-based casinos facing the imminent risk of permanent closure.

The Casino Cosmopol venues in Malmö and Gothenburg, both operated by Svenska Spel, are currently at the center of this uncertainty, potentially leaving the brand’s Stockholm venue as the sole remaining land-based casino in Sweden.

In this article, we delve into the details surrounding this impending decision and its consequences for the affected cities and employees.

A Critical Decision Looms

According to a report in the Swedish newspaper Göteborgs-Posten, the fate of the Casino Cosmopol venues in Malmö and Gothenburg hangs in the balance. The decision that will determine whether these establishments continue to operate or face permanent closure is scheduled to be made at an extraordinary board meeting set for January 24th.

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Eva-Lena Ramberg, a federal lawyer at Sweden’s Hotel and Restaurant Union and contract manager for Casino Cosmopol, shared this information with Göteborgs-Posten. As the decision looms, employees are expected to be notified, and trade unions will be engaged in negotiations on January 25th. Ramberg expressed hope that alternative solutions beyond liquidation could be explored, emphasizing that closure is not the only recourse in this challenging economic situation.

Potential Impact on Jobs

The potential closure of the casinos in Gothenburg and Malmö would have significant implications for employees. Approximately 120 employees in Gothenburg and an additional 105 in Malmö could face the prospect of job losses. The impending decision will not only affect the local economies but also the livelihoods of these individuals.

Closures Amidst Shifting Trends

The uncertainty surrounding these casinos is not isolated but rather a response to evolving gambling trends. In September of the previous year, it was announced that all three Casino Cosmopol venues in Sweden would remain closed on Sundays, Mondays, and Tuesdays due to increased competition from the online gambling sector.

Lotta Örtnäs, press manager at Casino Cosmopol operator Svenska Spel, highlighted the shifting preferences of guests, who primarily visited the casinos on weekends. The decision to align the venues’ operating hours with customer demand meant that they would be open from Wednesday to Saturday.

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Factors Contributing to Decline

The revenue decline experienced by Casino Cosmopol stems from several factors. In addition to intensifying competition from online operators, Svenska Spel attributed the land-based revenue decrease to their enhanced measures to promote responsible gaming and combat money laundering.

The impact of these measures was notable, with Svenska Spel’s land-based Net Gaming Revenue (NGR) falling by 13.3% to SEK 248 million in Q2 2023 and by 11.5% to SEK 247 million in Q3.

As the decision day approaches, the future of these casinos hangs in the balance, leaving employees, stakeholders, and communities anxiously awaiting the outcome. The evolving landscape of gambling in Sweden poses challenges that demand adaptive solutions to ensure the sustainability of land-based establishments like Casino Cosmopol.

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Jerome, a valuable addition to the Gamingo.News team, brings with him extensive journalistic experience in the iGaming sector. His interest in the industry was sparked during his college years when he participated in local poker tournaments, eventually leading to his exposure to the burgeoning world of online poker and casino rooms. Jerome now utilizes his accumulated knowledge to fuel his passion for journalism, providing the team with the latest online scoops.

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Dutch Regulator Intensifies Supervision in 2024 to Ensure Safe Gambling

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Dutch Regulator KSA’s 2024 Supervisory Agenda Targets Responsible Gambling

As a seasoned gambling professional, staying updated on regulatory agendas is crucial for navigating the ever-evolving landscape of the industry. The Dutch gambling regulator, Kansspelautoriteit (KSA), has unveiled its ambitious Supervisory Agenda for 2024, outlining strategic initiatives to reinforce responsible gambling practices and combat illicit operations. In this comprehensive guide, we delve into the key objectives set forth by the KSA, shedding light on the regulatory priorities shaping the Dutch gambling landscape in the coming year.

The KSA’s Supervisory Agenda for 2024 underscores its unwavering commitment to promoting responsible gambling and safeguarding consumer welfare. Central to its mission is the amplification of “Safe Play” measures, aimed at fostering a secure and transparent gambling environment for all stakeholders. With a renewed emphasis on regulatory oversight, the KSA aims to bolster its supervisory framework to address emerging challenges and uphold the integrity of the Dutch gambling market.

In its pursuit of regulatory excellence, the KSA will intensify its scrutiny of operators’ duty of care measures, emphasising the importance of proactive interventions to prevent problem gambling behaviours. By implementing a data-driven approach to risk-based monitoring, the regulator aims to identify and mitigate potential harm swiftly, ensuring that operators fulfil their obligations to prioritise player protection.

Furthermore, the KSA’s agenda for 2024 includes targeted measures to disrupt the supply chain for unlicensed online gambling. Recognising the proliferation of illicit operators, the regulator will employ investigative tactics to dismantle unauthorised gambling networks and hold perpetrators accountable. Through rigorous enforcement actions and collaboration with law enforcement agencies, the KSA seeks to root out illegal gambling activities and preserve the integrity of the licensed gambling sector.

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A key focal point of the KSA’s supervisory efforts will be the enforcement of advertising regulations, with a particular emphasis on safeguarding vulnerable demographics, including young people. In response to recent findings highlighting breaches in advertising standards, the regulator remains steadfast in its commitment to curbing irresponsible marketing practices and promoting socially responsible advertising within the gambling industry.

In a recent revelation, the KSA unveiled the results of its investigation into unlicensed gambling advertising, exposing widespread non-compliance among affiliate sites. Of the 33 gambling websites scrutinised, 14 were found to have flouted regulations, including targeting individuals who had self-excluded from gambling activities. Such violations underscore the urgency of the KSA’s enforcement efforts to curb illicit advertising practices and protect consumers from exploitative marketing tactics.

As the Dutch gambling landscape evolves, the KSA’s Supervisory Agenda for 2024 serves as a beacon of regulatory diligence and consumer protection. By prioritising responsible gambling initiatives and cracking down on illicit operators, the regulator reaffirms its commitment to fostering a safe, fair, and sustainable gambling environment for all. As industry professionals, it is imperative to align with the KSA’s vision and actively contribute to the advancement of responsible gambling practices in the Netherlands.

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