Ron Strider
Well-Known Member
Nevada can finally take back its reputation of most sinful state from Colorado when adult use marijuana sales will be legal as of July 1. Sales will begin at midnight on Friday. Adults over the age of 21 with legal identification will be allowed to purchase up to one ounce of marijuana or one-eighth of an ounce of marijuana-infused edibles or concentrates from licensed marijuana retail outlets.
The day almost got derailed when a judge in Carson City last week ruled that the law voters approved required alcohol distributors to have the exclusive rights for marijuana distribution for the first 18 months. Transporting medical marijuana doesn't require a distribution license. The last minute ruling along with an emergency regulation regarding packaging had operators scrambling to make sure they were in compliance by July 1. Many were stocking up on inventory just in case there were distributor problems.
Baker, a cannabis retail software company used by many dispensaries said one of its partners, Blackbird Logistics was able to get an alcohol distribution license and continue their delivery business. Baker Chief Executive Officer Joel Milton said he expects that 80 to 90 % of the revenue from marijuana sales will come from tourists, citing the fact that 70% of medical marijuana sales in the state are already from out-of state visitors.
Economic and Fiscal Benefits Analysis prepared by Las Vegas-based RCG Economics in conjunction with the Marijuana Policy Group predict that the state will reap $393 million in annual sales of adult-use marijuana in 2018 and that will increase to $485 million by 2024. Schools are expected to receive $20 million a year from the estimated $60 million in tax revenues. The new industry is expected to 3,300 jobs.
Colorado's boom in tourism began when it legalized adult use marijuana and tourists flocked there for the novelty of buying legal marijuana. That did not go unnoticed by Nevada, which prides itself on questionable behavior. Last year, Colorado was in the top ten list of tourism drawing states according to the Colorado Tourism Office - something that hasn't happened in 22 years. In 2016, the state pulled in 82.4 million visitors who spent $19.7 billion versus Nevada's travel spending of $3.23 billion.
"The marijuana prohibition era is finally coming to an end in Nevada," said Mason Tvert, director of communications for the Marijuana Policy Project (MPP), which backed Question 2, the initiative to regulate marijuana like alcohol that was approved by approximately 54.5 percent of Nevada voters in November. MPP supported similar, unsuccessful initiatives in Nevada in 2002 and 2006. "Adults will now be able to purchase marijuana similarly to how they purchase alcohol, from regulated businesses rather than criminals in the illegal market," he said.
State Senator Tick Segerblom was a big supporter for legalization and is expected to be first in line at midnight at Reef Dispensaries on the Las Vegas strip. "This day is the culmination of two years of hard work by an army of Nevadans. I'm very proud to be a part of it," said Senator Segerblom. "It's going to be a historical day in the history of Las Vegas."
Reef says the late minute rulings won't affect the company and they are preparing for big crowds. They will be handing out limited edition 'Day 1' snap back hats to the first 100 customers in line. They are also planning a big celebratory event with a rooftop firework show, live DJ's, food trucks and sponsor booths from local cannabis vendors. "We are extremely excited to be ushering in the launch of recreational cannabis in Nevada in style," says Reef Dispensaries / Tryke Companies CEO Matt Morgan. "As a company, we hope to lead by example so that other markets can follow, laying the groundwork for eventual nationwide legalization."
News Moderator: Ron Strider 420 MAGAZINE ®
Full Article: Nevada Adds Legal Recreational Marijuana To Its List Of Sins
Author: Debra Borchardt
Contact: Contact Information
Photo Credit: Reef Dispensaries
Website: {{meta.title}}
The day almost got derailed when a judge in Carson City last week ruled that the law voters approved required alcohol distributors to have the exclusive rights for marijuana distribution for the first 18 months. Transporting medical marijuana doesn't require a distribution license. The last minute ruling along with an emergency regulation regarding packaging had operators scrambling to make sure they were in compliance by July 1. Many were stocking up on inventory just in case there were distributor problems.
Baker, a cannabis retail software company used by many dispensaries said one of its partners, Blackbird Logistics was able to get an alcohol distribution license and continue their delivery business. Baker Chief Executive Officer Joel Milton said he expects that 80 to 90 % of the revenue from marijuana sales will come from tourists, citing the fact that 70% of medical marijuana sales in the state are already from out-of state visitors.
Economic and Fiscal Benefits Analysis prepared by Las Vegas-based RCG Economics in conjunction with the Marijuana Policy Group predict that the state will reap $393 million in annual sales of adult-use marijuana in 2018 and that will increase to $485 million by 2024. Schools are expected to receive $20 million a year from the estimated $60 million in tax revenues. The new industry is expected to 3,300 jobs.
Colorado's boom in tourism began when it legalized adult use marijuana and tourists flocked there for the novelty of buying legal marijuana. That did not go unnoticed by Nevada, which prides itself on questionable behavior. Last year, Colorado was in the top ten list of tourism drawing states according to the Colorado Tourism Office - something that hasn't happened in 22 years. In 2016, the state pulled in 82.4 million visitors who spent $19.7 billion versus Nevada's travel spending of $3.23 billion.
"The marijuana prohibition era is finally coming to an end in Nevada," said Mason Tvert, director of communications for the Marijuana Policy Project (MPP), which backed Question 2, the initiative to regulate marijuana like alcohol that was approved by approximately 54.5 percent of Nevada voters in November. MPP supported similar, unsuccessful initiatives in Nevada in 2002 and 2006. "Adults will now be able to purchase marijuana similarly to how they purchase alcohol, from regulated businesses rather than criminals in the illegal market," he said.
State Senator Tick Segerblom was a big supporter for legalization and is expected to be first in line at midnight at Reef Dispensaries on the Las Vegas strip. "This day is the culmination of two years of hard work by an army of Nevadans. I'm very proud to be a part of it," said Senator Segerblom. "It's going to be a historical day in the history of Las Vegas."
Reef says the late minute rulings won't affect the company and they are preparing for big crowds. They will be handing out limited edition 'Day 1' snap back hats to the first 100 customers in line. They are also planning a big celebratory event with a rooftop firework show, live DJ's, food trucks and sponsor booths from local cannabis vendors. "We are extremely excited to be ushering in the launch of recreational cannabis in Nevada in style," says Reef Dispensaries / Tryke Companies CEO Matt Morgan. "As a company, we hope to lead by example so that other markets can follow, laying the groundwork for eventual nationwide legalization."
News Moderator: Ron Strider 420 MAGAZINE ®
Full Article: Nevada Adds Legal Recreational Marijuana To Its List Of Sins
Author: Debra Borchardt
Contact: Contact Information
Photo Credit: Reef Dispensaries
Website: {{meta.title}}
