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Nevada Dispensaries Sell $27M In Marijuana During First Month In Business

Gov. Sandoval, Nevada Gaming Policy Committee To Discuss Casino Impact


Nevada officials said Thursday that the state’s first month with recreational weed was a massive success for government coffers and local businesses.

The Nevada Department of Taxation announced that Silver State dispensaries generated some $27.1 million in revenue during the month. Per a report from the Las Vegas Review-Journal, Nevada’s first month was about double those seen in Colorado and Oregon. Nevada has issued 250 recreational marijuana licenses.

Nearly $3.7 million in tax revenue was generated.

How did the marijuana market compare to the market for poker cash games in July? More than double, as Nevada’s poker tables generated $12.4 million in revenue during the month.

The marijuana sales were surely boosted by the annual World Series of Poker, one of the summer’s main attractions. A record 120,995 entries were seen in the 74 bracelet events.

About a week prior to the release of the revenue numbers, Nevada Gov. Brian Sandoval announced that the Nevada Gaming Policy Committee will meet, sometime this year, to discuss how recreational marijuana impacts the casino industry.

“Gaming regulators have been clear on the prohibition of marijuana consumption on licensed gaming properties but there are additional policy considerations such as industry events and business relationships that should be contemplated,” Sandoval said in a statement.

The Committee, which in the past has met to discuss issues like internet gambling, is comprised of regulators, legislators and industry executives.

State voters in November approved recreational marijuana.

Tags: Marijuana,   Pot,   Las Vegas,   Nevada