Recreational marijuana sales in Las Vegas seem to be off to a great start.
mg was on scene for the launch of recreational marijuana sales in Las Vegas. The atmosphere was electric with consumers lining up to be among the first to legally purchase recreational treats. Launch parties, however, do not tell the whole story of how an industry is operating.
The Vegas market has received coverage across the world over the past week. But media outlets and consumers are not the only ones keeping a close eye on the Vegas scene.
The Associated Press is reporting that Nevada state inspectors have been out in full force checking on whether or not shops across the state were following regulations. Stephanie Klapstein, a spokesperson for the Nevada Department of Taxation, confirmed that the teams of inspectors concluded that the shops were following all regulations. Specifically, the inspectors were looking to make sure dispensaries only sold to individuals 21 and over and that packaging, labeling, and safety protocols were followed. The Department of Taxation found that all shops were in compliance.
The news is not shocking to many with a familiarity of Nevada’s medical marijuana program. The existing medical marijuana dispensaries are exclusively handling recreational sales for now. These shops have already been following the strict medical marijuana guidelines for awhile so the transition may not have been difficult (outside of the increased crowds and product demand).
The good news does not stop at successfully following standard operating procedures. “By the close of business on July 4, the state’s dispensaries had racked up $3 million in sales revenue and about $500,000 in tax revenue from recreational marijuana sales,” Cannabist reported. Industry analysts predict that Nevada could take in as much as $30 million in the first six months of recreational sales.
Nevada Senator Tick Sigerblom visited Las Vegas dispensaries during opening weekend and was excited at what he saw.
“This is the entertainment capital of the world. It’s a perfect complement to what we do,” he said. “We’re going to be like Amsterdam on steroids.”