Monday, July 10, 2017

Cannabis goes on sale in Nevada

Nevada marijuana dispensaries off to smokin' hot start - Jenny Kane, Reno Gazette-Journal:

 July 7, 2017 - "The four Reno dispensaries licensed to sell recreational marijuana each raked in 'hundreds of thousands of dollars' in the past four days from the state's first legal recreational marijuana sales, according to Will Adler, executive director of the Sierra Cannabis Coalition....

"Nevada Dispensary Association Executive Director Riana Durrett 'very roughly' estimated that Nevada made $1 million from taxes between Saturday and Tuesday, and dispensaries as much as $3 million.

"'Naturally, it will drop off because the first day was a novelty,' Durrett said. "I think (sales) will stay healthy because this market exists now, and I think people will be relieved to come out of the shadows;....

"Oregon dispensaries made $3.2 million on the state's first day of sales and more than $11 million in their first week, according to a 2015 article in Time. Colorado dispensaries made more than $5 million in their first week, although Washington dispensaries didn't make $2 million until four weeks in, the same article said....

"'(Customers) were a part of history — prohibition is over,' said Mikel Alvarez, spokesman for Blum, a company which has one dispensary location in Reno and three in Las Vegas.

"The Reno location served 1,000 customers and made $100,000 in sales during the first 24 hours, starting at midnight Saturday. The company's three Las Vegas locations brought in $90,000 in their first 24-hour stretch.

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