In the last several days four dispensaries located in Reno, Nevada that are licensed to sell recreational marijuana have seen an immense amount of cash flow. Per the Sierra Cannabis Coalition’s executive director, this is Nevada’s first legal recreational marijuana sales, equating to hundreds of thousands of dollars in revenue. Proving that profits are aligned with expectations for this first week of recreational sales.
It was roughly estimated, From Saturday – Tuesday, in taxes alone, Nevada made about $1 million, while dispensaries saw as much as $3 million. Expectations depict that this amount will decrease in months to come, however profits are estimated to remain healthy. Raina Durrett, Nevada’s Dispensary Association Executive Director stated that people will soon be relieved to come out of hiding because this market is present now.
According to an article in Time, compared to Nevada dispensaries, other states such as Oregon showed profits in their first week of about $11 million, while Colorado made about $5 million. Yet, Washington lagged significantly behind in their first week, not producing profits of $2 million until four weeks in.
Based on these figures, Reno continues to be content with their dispensaries profits. This green team is happy to have larger sales then Las Vegas, per dispensary stated, Sierra Cannabis Coalition’s executive director. It seems this could be due to the fact that, Reno had four dispensaries while Vegas had about forty that their consumers could choose from.