Nevada approves 61 more cannabis stores, nearly doubling existing number

Nevada mountains, photo by Andrey Grinkevich

Nevada issued 61 additional provisional recreational marijuana retail licenses, which would nearly double the number of stores serving the fast-growing market, according to the Las Vegas Review-Journal.

But not everyone was happy with the process, which was open only to businesses that already had medical marijuana permits.

Cannabis consultant Jason Sturtsman said that some businesses received multiple licenses, while other applicants were shut out.

“The main thing is that they just gave a bunch of licenses to a few select companies,” Sturtsman told Marijuana Business Daily.

“And if you look at the groups that won, the majority of those groups have a high amount of capital (behind them).”

State officials didn’t immediately respond for comment or provide the full list of winners.

But a number of companies announced they had won provisional permits, including:

  • Essence received eight licenses. Essence is currently owned by Integral Associates but is in the process of being acquired by Chicago-based Green Thumb Industries.
  • Green Growth Brands, based in Columbus, Ohio, was granted seven licenses.
  • TapRoot Holdings received seven licenses, according to TV station KSNV.
  • GreenMart, a subsidiary of Toronto-based MPX Bioceutical, received four licenses.

Some of the provisional licenses were awarded to applicants in counties that don’t have stores yet, according to The Nevada Independent.

Recent state figures show 65 stores are currently licensed to sell marijuana in a total of just five counties.

Companies that received a provisional license have one year to get the necessary local and final state approvals to begin operating.

Nevada stores sold nearly $425 million of recreational marijuana in the state’s first full year ending June 30, according to state figures.

Jeff Smith can be reached at [email protected]

3 comments on “Nevada approves 61 more cannabis stores, nearly doubling existing number
  1. Steve on

    It really sucks that the State awarded the new licenses in multiples to the big revenue producers. The classic “the rich get richer” unfortunately applies to this new industry just as it does to all industries. It would have been refreshing to hear that the small Mom & Pop operators where given the same considerations.
    We pay our taxes and have never had any problems with the State and have been doing so since the time Medical licences were issued. We applied for 3 of the new licenses being given out in hopes to get 1.
    The State figured why be fair and spread the wealth, lets give multiples to the big money operators and who cares about the little operators.
    What a disappointment……

    Reply
  2. Old Timer on

    No surprise. Wouldn’t expect anything fair or equitable from Las Vegas or Nevada, especially where money is involved.
    Haven’t seen much fairness or reasonableness in licensing access in California either.
    From the little I know, it seems Oklahoma’s legalization puts California to shame. Many growers and retail outlets licensed and operating less than 6 months after vote. Wake up California, especially Los Angeles
    Hate to be so negative, but the overall situation in California is pretty grim for small farmers, extractors, edible makers, and retail businesses. Many feel their only alternative Is the black market or leave the State.
    I love the plant and was convicted of a felony in 1999. It cost so much to [maybe] get legal. At my age, high dollar speculation just isn’t responsible. Since my arrest, I have worked hard and made sacrafices to accumulate what I have. Until the law is more settled and the processes are fair, I will be investing my hard earned resources where I have a reasonable expectation of success and some level of control of the business.

    Reply
  3. BOB on

    We are a small mom and pop operation and we were shut out it’s a shame the state was more concerned about tax revenue then fairness

    Reply

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