Marijuana MSO footprints mapped out in new feature

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Map showing the number of marijuana multistate operators per state.

With so much fast-paced expansion and, more recently, downsizing, it can be tough to know where each marijuana multistate operator is operating.

That’s why MJBizDaily has mapped out the MSOs, creating a series of visuals illustrating the states where each company is running at least one retail, cultivation and/or manufacturing facility, the number of MSOs operating in the different markets as well as a tally of the states where each multistate operator does business.

Informed by regulatory filings, news releases and fact-checked by MJBizDaily, this new resource page will be updated quarterly.

The digital version, part of which was initially published in the 2023 MJBiz Factbook, also includes information about each MSO’s recent activity and plans for the near future.

2020 and 2021 were characterized by massive – and often very expensive – mergers and acquisitions, license applications and build-outs of retail and production spaces.

But through 2022 and so far in 2023, M&A activity has slowed, and many MSOs have cut costs, downsizing operations in certain states and exiting others entirely.

Reasons for the slowdown include:

  • The slow pace of federal legalization and other federal reform such as SAFE Banking.
  • Macroeconomic headwinds, such as inflation and high interest rates.
  • Wholesale cannabis price compression.
  • High taxes.
  • Competition.

“Optimization” is now the word cannabis executives use to describe this next phase of the industry.

This year, cash-strapped MSOs will aim to squeeze as much value as possible out of every investment, shutter or downsize areas that aren’t performing as well as they hoped and reallocating those dollars toward more promising revenue-generating opportunities.

And because some states haven’t yet passed adult-use cannabis legislation, many are investing in medical marijuana programs in key states where efforts to legalize are looking likely to pass.

The full picture is available here.

Have an update to share? Kate Robertson can be reached at kate.robertson@mjbizdaily.com.