In the past, Las Vegas has been the last place you would expect to find cannabis. But in recent years, our city has been on the forefront of the legalization movement. The city is now the home to several cannabis companies, including a company that is in the process of building a massive cannabis cultivation facility. So, what is going on in Sin City?
The world’s largest cannabis company has now become the largest marijuana provider in the world after receiving a $4 billion investment from the Chinese government. The move could accelerate the marijuana industry’s transition from the black market into a regulated industry that produces a safe and lucrative product. As we all know, cannabis use is legal in many states, but it remains illegal under federal law.
At a time when global cannabis legalization is a hotly contested issue, Las Vegas Strip is showing us all that cannabis isn’t just for old hippies anymore. The city has seen its share of classic stoner rock bands come and go over the years, but none have done it quite like the Cannabis Cowboys. The CCC has appeared at every major cannabis event since the first medical marijuana dispensary opened in the city, and have been an integral part of the local cannabis scene for decades. The group has performed on stages around the world, and soon they’ll be returning to Sin City for a unique collaboration with the city’s most famous casino, the Cosmopolitan .Before the pandemic, Nevada seemed like a win-win situation for cannabis businesses. The seemingly uninterrupted flow of tourists from states where cannabis is not legal or where the supply of legal products is scarce. Several companies have made large investments in the state, especially in Las Vegas, to take advantage of tourists who are willing to spend a lot of money to bring contraband home. Of course, it’s not legal to bring cannabis products across state lines, but that doesn’t stop many tourists from taking the risk. The pandemic obviously led to the collapse of this market, as tourism dried up and businesses had to rely solely on the activities of the local population. It now appears that the return of cannabis has begun. Planet 13 Holdings Inc. (CSE:PLTH) (OTCQB:PLNHF) reported record earnings of $11.2 million in May, with a gross margin of more than 50%. The company said May was the third consecutive month of record sales now that Las Vegas and America are back to normal. Planet 13 said in a statement that hotels on the Las Vegas Strip have reported that hotel rooms are sold out for the foreseeable future, and Planet 13 expects sales to remain strong due to increased tourist traffic. In May, Planet 13 announced that first-quarter revenue had increased 41 percent to $23.8, before the pandemic hit and the shutdowns began. Optimism for the second quarter is therefore very high. Tourism and business are booming in Nevada, and our company reflects this trend, with continued growth month after month. We are pleased to report that the momentum of the past few months continues with another record sales month in May. Planet 13 has created a retail cannabis brand that is catching on with Americans. We are confident that this growth trend will continue with the reopening of Las Vegas and the upcoming opening of our Orange County superstore in July, said Larry Scheffler, co-CEO of Planet 13. The company opens on the 24th. June his California superstore with e-waves, a 16-foot octopus, a Planet 13 bus that you can capture on Instagram, and 50 cash registers.
One of the biggest problems Las Vegas had with selling cannabis was the lack of places for tourists to consume it. Flower sales are always the main thing, but there was nowhere to smoke. In hotels, smoking is often prohibited in the rooms or on the balconies. While smoking cigarettes is allowed in some classrooms, smoking cannabis is not. This led to the state passing Bill 341 in early June, which allows adults 21 and older to purchase and consume cannabis products for adult use at any licensed cannabis establishment. According to NORML, the measure sets rules for two different types of cannabis consumption areas. One group will be reserved for existing marijuana licensees, who can then apply to establish a cannabis consumption lounge on site. In another case, new independent businesses can apply for a license to operate an independent cannabis consumption lounge that is not adjacent or affiliated with an existing retail chain. The bill also provides for a reduction in the cost of applying for a permit for applicants who meet the social justice criteria. Under the bill, local governments are allowed to adopt policies to limit access to cannabis consumption areas. Before the law, only NuWu Cannabis in Vegas had a 16,000-square-foot tasting room. Because the clinic is located on sovereign land owned by the Las Vegas Paiute Tribe, it is not subject to the same restrictions as the rest of the state. Instead, NuWu regulates itself through the Las Vegas Paiute Cannabis Authority. So in Nevada, there are no taxes on marijuana, no waiting rooms, and no reason not to open a marijuana lounge. However, it is located north of Fremont Lane, which means guests have to drive about 15 minutes to get there. Planet 13 says it has reserved a large space in the Las Vegas SuperStore for a consumer lounge to be built as soon as possible. We’re glad Nevada is finally the land of lounge bars after a long wait. We have long believed that tourists need a safe, legal and enjoyable place to consume cannabis, and have been planning for a SuperStore consumer lounge since the bill was introduced two years ago, said Bob Grosbeck, co-CEO of Planet 13. Our SuperStore is one of the few dispensaries that has the space and proximity to the Las Vegas Strip to create a Vegas-style club. Like all of our dispensaries, we want to set the bar high and show the industry what is possible when your goal is to get out of Vegas, Vegas, Vegas.The Las Vegas cannabis comeback is under way. The city, which has been a mecca for cannabis tourism for years, is now poised to be the East Coast destination for cannabis and hemp fans, as legal sales of cannabis products are expected to begin in July.. Read more about cbd stocks to watch and let us know what you think.
assembly bill 341 nevadalas vegas newsaurora cannabi stockcbd stocks to watchmjna stock predictions 2025,People also search for,Privacy settings,How Search works,assembly bill 341 nevada,las vegas news,aurora cannabi stock,cbd stocks to watch,mjna stock predictions 2025